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Sunday, 18 January 2015

India CNX MidCaps Index: 18 January 2015, Sunday, 12.41pm Singapore Time

India CNX MidCaps Index: 18 January 2015, Sunday, 12.41pm Singapore Time
Chart courtesy of Chartnexus.com

Refer to chart structure above:
From 2H-2014 onwards, any selling down has been impulsive and any buying up has been slow.
Markets were using 3000 point range to induce small retailers and investors to buy stocks and engage in distribution. The double blue lined resistance is the ceiling capping the movement and guiding the selling distribution.

CNX Midcaps is approaching major resistance and selling is expected to take over soon.




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