Small caps at make or break

Nifty SmallCap 100 Index (NSE:CNXSMALLCAP)

Uppdaterad

NSE:CNXSMALLCAP Nifty SmallCap 100 Index

trendanalysis chartpattern niftysmallcap trednline

Were the small caps break the immediate support, another 25% fall can be expected. Its critical for them to go back above the trendline it is struggling to get past

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The divergence of the daily & weekly charts seem to indicate a reversal of trends. Stay invested {if initiated on earlier message} through the elections and by year end you may be rewarded. Hope it doesn't break the previous lows

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Support line touched one time too many. Downside more likely. Lets see whether it retraces from upward trending line above it

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Nifty small cap is on a make or break point. On a weekly basis it is showing positive divergence. Hence it may not go down without a fight. Will it eventually make it to the long term increasing trend line connecting 2009, 2013 lows ?

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