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The Nifty midcap index has risen over 15 per cent over the last six months with most stocks in the index showing upside. This move may push several stocks in new terrian with rise in volumes and positive sentiment.
NIFTY MIDCAP INDEX: The monthly chart reveals a trend line breakout around 17,000 levels. This mark has been successfully conquered suggesting upside. The Moving Average Convergence Divergence (MACD) has risen above the zero line, which means the positive sentiment is emerging gradually. Furthermore, the weekly chart shows 200-weekly moving average (WMA) has become the decisive level of breakout or breakdown. Current levels of 18,195 are trading well above 200-WMA and efforts are being made to cross the resistance of 18,600. Basis this, the rally may see 21,000 levels, . CLICK HERE FOR THE CHART
NIFTY MIDCAP INDEX: The monthly chart reveals a trend line breakout around 17,000 levels. This mark has been successfully conquered suggesting upside. The Moving Average Convergence Divergence (MACD) has risen above the zero line, which means the positive sentiment is emerging gradually. Furthermore, the weekly chart shows 200-weekly moving average (WMA) has become the decisive level of breakout or breakdown. Current levels of 18,195 are trading well above 200-WMA and efforts are being made to cross the resistance of 18,600. Basis this, the rally may see 21,000 levels, . CLICK HERE FOR THE CHART
midcap
sources - spidersoftwareindia
sources - spidersoftwareindia
