NiftyMidCap : Probable Breakout and Historical perspective
Nifty MidCap is exhibiting good strength presently.
There are three key Intervals in time I want to highlight.
>> Early 2018: There was a breakout in Relative Momentum and Price, but very soon the price as well as Momentum retraced and what followed was 2 years of MidCap correction.
>> COVID Bottom: By 2020 the MidCap correction was coming to an end, the index was preparing for a rally, COVID happened. There was a big correction in price, but the upward sloping Relative Momentum trend line never broke. This is when the biggest MidCap rally of the decade started!
>> Present Day (6th May 2023): MidCap index is 3.5% away from ATH, 9% away from the last Swing Low. It's better to not get biased by what happened in early 2018 and analyse the present situation at face value. Hence, on the lookout for new leaders (sector/individual stocks) if there is a possible STAGE 2 from this point onwards.
|| Will keep this Idea up-to-date, so better follow the same ||
There are three key Intervals in time I want to highlight.
>> Early 2018: There was a breakout in Relative Momentum and Price, but very soon the price as well as Momentum retraced and what followed was 2 years of MidCap correction.
>> COVID Bottom: By 2020 the MidCap correction was coming to an end, the index was preparing for a rally, COVID happened. There was a big correction in price, but the upward sloping Relative Momentum trend line never broke. This is when the biggest MidCap rally of the decade started!
>> Present Day (6th May 2023): MidCap index is 3.5% away from ATH, 9% away from the last Swing Low. It's better to not get biased by what happened in early 2018 and analyse the present situation at face value. Hence, on the lookout for new leaders (sector/individual stocks) if there is a possible STAGE 2 from this point onwards.
|| Will keep this Idea up-to-date, so better follow the same ||