NIFTY SMALLCAP INDEX.... SHOULD I HOLD MY POSITIONS?
The index had taken supports at 0.618 and 0.786 Fibonacci retracement levels.
Looks like it had broken out of the resistance line.
This is not an idea to take blind positions in smallcap stocks. If you are holding such stocks you can continue to hold as the index performs well now.
Fresh positions can be taken after careful analysis of technicals in individual stocks.
The next huge resistance will be near previous high levels.
The performance in midcap and smallcap stocks have no bearing on the performance of nifty 50 stocks.
Looks like it had broken out of the resistance line.
This is not an idea to take blind positions in smallcap stocks. If you are holding such stocks you can continue to hold as the index performs well now.
Fresh positions can be taken after careful analysis of technicals in individual stocks.
The next huge resistance will be near previous high levels.
The performance in midcap and smallcap stocks have no bearing on the performance of nifty 50 stocks.