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nirav5

Midcap Index approaching danger neckline

Nifty MidCap 100 Index (NSE:CNXMIDCAP)  
nirav5  
NSE:CNXMIDCAP   Nifty MidCap 100 Index
Head and Shoulders
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headandshoulders
There is a Head and shoulder setup on Cnxmidcap weekly chart.
The neckline is forming around 16000 - 16300 zone. It should not breach that level and give weekly close below than that.
Otherwise it will open up 2000 points downward space.
Ofcourse Midcap index is not trade-able directly. However many people are routing their money through SIPs in many Midcap funds.

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