Nifty–A Sideways Correction with Stock Specific Action. Nifty50 Equal Weight to Track.

Nifty was at 14500-14700 in mid of January and is still around that mark in mid to end of March 2021.

Nifty at 15000-15200 in first week of February and was at 15000-15200 in start of March.

This clearly shows the markets in a corrective zone for the last 2-3 months.

Nifty has tried making a breakout move above 15200 and breakdown move below 14800 but with no follow up.

The recent downtick has again tested the Budget gap and now that becomes a stoploss for trading longs.

Nifty50 Technical Chart

Nifty 50 Sideways


  • Holds on to the trendline.
  • Tested the Gap and made a good reversal candle.
  • Move beyond 14950-15000 could trigger short covering.
  • Major supports remains at 14330-14450 and 13600-13700.

Nifty 500 Technical Chart


Nifty 500


  • Similar to the Nifty but tested the trendline more closely.

Nifty50 Equal Weight – This clearly shows the Sideways Correction.

Nifty 50 EqualWeight Sideways

  • We have started looking at Nifty50 Equal Weight more closely given the highly concentrated structure of the Nifty50.
  • This chart clearly shows a sideways correction.
  • Finding it tough to break on either side.
  • Going forward will be watching for a breakout or breakdown here to confirm the trend.


Nifty Smallcap 100 Chart – Strength from Budget Gap. Stock Specific Action to continue.


Nifty Small 100

  • Nifty Smallcap 100 has started outperforming the Nifty since budget and also since November.
  • Also has corrected lesser in the current dip.
  • Same is the case with the Midcap Indices.
  • Can clearly see its quite higher than the Budget Gap.
  • This suggests stock specific action could continue in the near future.
  • Continue to look at microcaps, smallcaps and midcaps instead of the largecaps.


5 Long Term Fundamental Smallcap & Midcap Picks  - Analyse India   ( All 5 Reports ready and you will get in 1 hour of subscription.)

  • 5 Stock Research Reports
  • Detailed Research Report on Companies with a holding view of 6 months to 2 years.
  • No Sectoral Preference.
  • Smallcap & Midcap Ideas.
  • The 5 stock Reports would be sent over the next 2 weeks.
  • The Reports will be sent via E-mail.

Pricing – Rs 4000.

For any queries mail to or Whatsapp 7977801488 ( Please save this contact no for receiving our whatsapp)

Performance of our Last Report - Sensex Post 50000 Boom or Doom

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.