SSI & MidCap 100 Index - May 2021
SSI - Strong Stock Index created for stocks which are strong in all of NSE basket.
Below is a comparative chart of SSI with Midcap 100 index. I have taken the start point as Jan 2021.
Recent peak on SSI was around the band of 380 - 460 band, reading on 11th May 2021 stands at 435. As per momentum score we have entered the resistance band or the euphoric phase post which mostly a correction kicks in, use this as a opportunity to lighten up the trading positions on the way up and generate some cash.
Nifty Midcap 100 chart
The midcap index chart is posting a different picture suggesting that a breakout has happened Yesterday.
Lets see again what stands true, the market internal data or the Index chart which everyone can see as a breakout, another test for SSI study.
We have always used the Peaks and troughs of the SSI to time our positions in midcap index. Lets stick to that this time too.
Have a Good Day