Nifty Small Cap: Near support and a rally to follow

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Nifty Small Cap


Nifty Small Cap is finding support near its previous low which indicates that the downtrend is not dynamic and prices are all set to move higher finding support from the lows. The important support of 5600 will be crucial. The second best support will be at 5900 levels. 

As far as 5900 is intact prices can move up till 7100 levels. The level of 7100 will be achieved in a dynamic move as it will be in wave iii (impulse wave). This wave iii is likely to be an extended wave. 

In short, Small Cap stocks are in focus as prices of an index can soar till 7100 with support of 5900 levels over medium term.



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