Friday, May 17, 2024
Home News Nifty Midcap 50 in 'Sell on Rise' mode, says Ravi Nathani Midcap...

Nifty Midcap 50 in ‘Sell on Rise’ mode, says Ravi Nathani Midcap 50 in ‘Sell on Rise’ mode, says Ravi Nathani



Nifty Realty Index as seen on the daily technical charts, which reveal important price levels and trends in the market. The current market price (CMP) of the index is 393.75, and it is trading in a narrow range between 389 to 402.

Nifty Midcap:

The upper limit of this range is also known as the resistance level, while the lower limit is known as the support level. It is important to note that the index has been unable to overcome the resistance level despite several attempts, indicating that there is a lot of selling pressure in the market at this level.


In technical analysis, a breakout occurs when an asset’s price breaks through an important resistance or support level, indicating a possible change in trend.


In case of Nifty Realty index, a bullish breakout is expected if it closes above the resistance level of 402. If it happens, the index may move towards the expected target range of 412-426.


Conversely, a bearish trend can be expected if the index closes below the support of 389. In this scenario, the next support can be expected around 378-373 levels.


Trading Strategy: Based on technical analysis, traders are advised to adopt a “Buy Low, Sell High” approach to capitalize on the expected price movements. This means buying near the support level and selling near the resistance level. Traders should be cautious and refrain from taking positions until a clear breakout is observed in either direction. Once the breakout is observed, traders can take positions in the direction of the breakout.


Nifty Midcap 50 Index


Bias: Sell on the rise


Last Close: 8,451.70


The Nifty Midcap 50 index is currently trading at the current market price (CMP) of 8,451.70. Based on the technical analysis of the daily charts, it can be seen that the index is range bound between 8,551 to 8,310.


If the index trades and closes above 8,551, a bullish trend is expected at the next resistance levels 8,610-8,680-8,740. Conversely, if the index trades and closes below 8,310, a bearish trend is expected at the next support levels of 8,225-8,065.


Unless the index closes above 8,786, the short-term trend is down. Hence the best trading strategy in the short term would be to look for selling opportunities based on closes with a strict stop-loss of 8,786, while near term traders should monitor the range (8,551-8,310) and follow the trend . After breach in any direction.





Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...


Please enter your comment!
Please enter your name here


Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments