F&O Talk: Midcaps, smallcaps stage sharp comeback, trade above key moving averages. What's the outlook?
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- India VIX fell 4.86% to 17.21, signaling reduced market volatility.
- Nifty Midcap 100 and Nifty Smallcap 100 have surged past their key moving averages, outpacing the Nifty.
- Nifty has traded above its 50‑day EMA for three sessions, with RSI above 57 and a bullish MACD histogram.
- Nifty faces resistance at 24,650‑24,700; a sustained breach could push it toward 25,000‑25,200, while support sits at 24,050‑24,000.
- Bank Nifty closed up 1% but remains below its 200‑day EMA, consolidating as investors await earnings.
- ICICI Bank, HDFC Bank, and YES Bank earnings are due soon, and their results will likely drive Bank Nifty’s next move.
Why it matters: Midcap and smallcap rally could lift investor returns if Nifty breaks 24,700, while Bank Nifty waits on bank earnings.
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