Nifty Small cap 100 @ 14295
• As per this formation nifty small cap index has completed a 5 wave cycle which it started from June 2022 low & at recent high we got 5 waves cycle move & currently stock is retracing the entire up move.
• Till now small cap index has retraced below 23.6% & its 38.2% fib support coming to 13356 & 50% coming to 12131 and lower band of rising channel support coming around 11800 spot levels.
• As per this formation nifty small cap index has completed a 5 wave cycle which it started from June 2022 low & at recent high we got 5 waves cycle move & currently stock is retracing the entire up move.
• Till now small cap index has retraced below 23.6% & its 38.2% fib support coming to 13356 & 50% coming to 12131 and lower band of rising channel support coming around 11800 spot levels.
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• Now I too have another alternative open in this small cap index but for that I need some evidence as in minimum 1 to 2 days daily positive close to figure out the alternative & it's levels, till then time we do not get daily positive close this alternative will remain wide open and small cap stocks correction will remain continue till 13356 minimum to max 12131 to 11800 spot levels & anywhere from this support zone it should complete it's correction & should start next bull cycle.
• #NOTE: LIKE I SAID IT IS ADVISIBLE NOT TO DO ANY KIND OF UNNECESSARY BOTTOM FISHING IN STOCK OR AVG TILL THE TIME WE DO NOT GET ANY STRONG EVIDENCE OF SUPPORT FORMED OR BOTTOM PLACED
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