Midcap bearish angle

Midcap nifty clearly has bearish angle in 1D 1H timeframes. I only consider it bearish ones it start giving closing below the channel levels. But keep an eye whenever these triggers it will give
bigger trades. Please keep following the below updates which i do on regular bases. If any changes in the plan you will get glimps of it. Also market is so unpredictable now a days.

I mostly try to capture big trends but always prefer small trades enter & exit as i am a option buyer. Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too. Best way is. Keep the one side view when level breaks then keep booking the profits. Enter again in bounce with proper SL/risk management.

DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.

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Broken the channel during the day. But somehow closing under it.

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Looking weak.

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Brutal fall started as indicated yesterday.

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Said well in advance.

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At 50% fibo. make or break level.

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Rejecting from the given level. As expected.

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Sustained above 10500 will be bullish. Below it, selling pressure can come again.

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Midcp nifty bearish closing only. if sustained below 10500 will be sell the bounce only.

If 10300 broken we can easily see 9960. no in-between. Expected bounce levels are marked for monday.

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10300 is already broken

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Midcap nifty can give good bounce today. As it's max shorted index at the moment. So shortcovering will be even more powerful. 10430 will be my target.

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10450 will act as next resistance level. Keep an eye if reject from here. Positional shorts will be created in next expiry. Stay away from current expiry.

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Happy Holi to all!

Sorry for the late post. Actually i was on holidays.

I still not consider midcp as a bullish. It's at 0.3 fibo rejection level. Below 10500 it will stay bearish only.

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Next selloff focus levels. Based on fibo extension.

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Midcp levels

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It did not go as per my expectations today. Instead it has made inverted head & shoulder pattern. Now it will be on break or make levels. 10500

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50% fibo rejection zone at 10580. I will become bullish above this only.

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Closing below 10500 is still bearish for me. As its also below 0.5 fibo levels. Tomorrow also monthly yearly expiry so cant exactly predict the market. After monday price action only we will have more clear picture.

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Midcap nifty still not entered in the bull territory. As facing rejection at 0.5 fibo.

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Midcap looking bullish now. It is at the point where there was major selloff came in the market. So above 10700 level it will become super bullish. Close below it

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Midcap will be bullish above 11130. Otherwise doubletop rejection. And war to pata hi hai.

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Focus on this levels in midcaps. ek kahawat hai. jaab aag lagti hai to chuhe pehle bhagte hai aisa ek dost bolta hai......

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Solid bearish angle there. it will fall if break the trendline.

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Trading in the channel. Near rejection zone now.

ashishhc

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