Nifty, Smallcap and Midcap. Charts on Radar–Upl, Hindalco, Sharda Cropchem, Tata Communications.

First in Reminder to Download our App and Broadcast Channel – Free Stuff

Free Youtube Videos
https://youtube.com/user/noorrock2002

Free Broadcast Channels
https://bit.ly/3pvQ5FB
https://bit.ly/3mAFdEy

Free In App Content

iOS - https://t.co/0ZBnD8LV02 -
Enter the org code - "bvuod"

A quick take on the indices.

Nifty Technical View.

Do check this video where our stance was positive at lower levels. Also an explanation - https://nooreshtech.co.in/2021/12/what-happens-on-bank-nifty-rsi-positive-divergence-video-explanation.html

Nifty is now back above the 3 day fall highs of 17380. First indication of strength.
We are still faraway on that recovery in Bank Nifty. But Bank Nifty now around the 35500 mark.
A good correction in a channel for Nifty.
Upper end of the channel at 17500 and last swing high of 17640. A move beyond that changes the lower top structure.

Nifty Midcap 100

A good channelled move with a test of last breakout.
Back to the upper end of the channel.
Yet to cross the 3 day fall highs.

BSE Smallcap 100

Stick to the view of selective outperformance to continue in Smallcaps – Check this Chart

Clear relative strength in BSE Smallcap Index with the index not breaking the major swing lows and retesting the last breakout.
Back very close to the recent swing highs.
A flat channel compared to a downward sloping channel in Nifty and other indices.
Expect Stock Specific Action to continue even in choppy Nifty moves.

Stocks on Radar

UPL Limited – Good correction and channelled move after breaking out. Now setting up for a fresh breakout.

Hindalco – Good Price Volume Breakout. Clear leader in Metals now.

Sharda CropChem – A lot of agro chemical names seeing price action. Others to watch Astec Life, Bharat Rasayan.

Tata Communications – Now even Tata Tele is at closer to a similar market cap to tata comm. Time for a breakout here or a top in Tata Tele. Would be more positive on Tata Comm.