Key levels to track: Sensex, Nifty50, Nifty Midcap, Nifty Smallcap indices

Last week witnessed high volatility with indices opening in ‘gaps’ – a sharp movement over the previous close. The Nifty 50 and BSE Sensex closed above their 200-DMA with average volume. The Nifty closed at 10,805, up 13 points while the S&P BSE Sensex closed at 35,962 up 33 points on Friday. The 200 DMA for the Nifty50 index stays at 10,756 and that for the S&P BSE Sensex at 35,481 levels.

Nifty 50 & S&P BSE Sensex: The recent trade in the index shows the relevance of 50-DMA. The 50 DMA (10,530 of Nifty50 and 35,025 of the S&P BSE Sensex) should act as strong support levels for coming days, charts suggest.

On the flip side, 100 DMA at 10,940 (Nifty50) and 36,295 (S&P BSE Sensex) would act as resistance levels. The overall trend indicates that the Nifty50 is heading towards 10,900 – 11 000 levels and the S&P BSE Sensex towards 36,200 – 36 500, chart patterns indicate.

Nifty Mid-Cap 100: The index rallied 52 points to 17,591 on Friday. The current level are nearing the resistance levels witnessed earlier around 10,710 – 10,660 as per daily chart patterns. The index had breached consolidation in the range 17,700 – 17,200. The current trend indicates an attempt to conquer 17,700 as per chart.

Nifty Small-Cap 100: The two continuous gap-up close suggest that the index has gained strength on the daily charts. The MACD (moving average convergence and divergence) made a positive crossover near to breakout level of its zero line.  The index can head towards 6,340 – 6,350 in coming sessions.