Stay updated with breaking news from Smallcap Index. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Nifty Smallcap 250 has risen by 11.07%, 33.68%, and 37.31%, in the last three months, six months, and 1 year, respectively. Among the indices analysed by the brokerage, only Nifty Microcap 150 with a 10.64% uptick, delivered higher returns than Nifty Smallcap 250 last month. Nifty Next50 rose by 9.09% and Nifty 500 gained by 7.06%.
“Technically, Nifty Midcap and Nifty Smallcap are in a strong uptrend as they are marking the sequence of higher tops and higher bottoms. The uptrend remains intact as long as the sequence of higher tops and higher bottoms is sustained. Also, it is trading above its short and long-term moving averages. The momentum indicators and oscillators are also supporting the overall bullish chart structure,” he says.
“If we fail to cross 19,800 and break to around 19,680, it would be a sign that the short-term trend has turned down and we do see further selling and possibly going back to 19,400. Early indications from some of the other indices like Bank Nifty and Smallcap Index show that Nifty will possibly give up and head to those lower levels.”
Almost 100 companies in the smallcap segment gave double-digit returns of up to 41% in the week ended November 18, data analysed by ETMarkets showed.
Action Construction Equipment, Jyothy Labs and ITD Cementation India - to give returns going up to 174% in the last one year.