Nifty and CNX Midcap Technical View

 

A quick update on Nifty.

Suddenly we are seeing a wave of bullishness across people.

Remember this update on RSI Nifty and subsequent ones - https://nooreshtech.co.in/2015/08/rsi-at-20082011-lows-big-buy-opportunity-coming.html 

Nifty Technical View

• Downward channel bottom made at 7550. Upside channel resistance now at 8350-8400.
• 61.8% retracement of the last downmove comes to 8225-8240. A sustaining move beyond it will be further confirmation of a good bottom made.
• Time to go stock specific as we are still not into momentum but recovery from lows.

CNX Midcap

• Did not make new lows in the fall to 7550.
• Same bottoms in last 1 year.
• Even double bottom recently.
• Getting back into the up channel.
• Major outperformance to Nifty. ( generally midcaps tend to fall more with a 20% down tick in Nifty )
• Time to remain stock specific.

 

The date for the Online Crash Course is now changed to Sunday October 18th 2015.

We are going to conduct a one day online crash course on Technical Analysis for the Members ofTechnical Traders Club . ( Free for all members )

For non members

Fees Rs - 3500.

Link for Payment - https://www.instamojo.com/noooreshtech/online-crash-course-on-technical-analysis-sa/

The video recording will be available to for the participants. We will be using www.wiziq.com platform.

Will need a broadband connection and a pair of headphones. ( preferably 2 mbps or more )

Limited seats for non members.

Had written a detailed post earlier on a similar program we did in April 2014.

It can be read here - https://nooreshtech.co.in/2014/02/online-crash-course-in-technical-analysis.html

Course Content and more.