Can mid-, small-cap indices cross 200-DMA in near-term; what charts say?

Technical charts suggest that the Nifty MidCap 150 index may succeed in conquering the long-term moving average; while the SmallCap index faces a tougher challenge.

The National Stock Exchange (NSE) benchmark - the Nifty 50 index conquered the 200-Daily Moving Average (200-DMA) on Monday, April 20, after a gap of more than 4 months. The Nifty closed at 24,126, as against the 200-DMA, which stood at 24,051. The Nifty rallied over 11 per cent from its recent low of 21,744 to conquer the 200-DMA, also known as the long-term moving average.  Technically, the 200-DMA is considered as a key pivot in differentiating the long-term trend as bullish and bearish. In general, stocks and indices trading consistently above respective 200-DMAs are considered as trading with a positive bias, and vice versa.  At present levels, the Nifty MidCap 150 index has surged over 15.6 per cent from its April low of 17,270, while the Nifty SmallCap 250 has surged 19 per cent from its low of 13,315. Despite this sharp rally, the MidCap index is still 2.8 per cent shy from its 200-DMA, and the SmallCap 6.6 per cent.  Can the recent pullback in the stock market aid the Nifty MidCap and SmallCap indices reclaim the 200-DMAs? Here's what the charts suggest. 

Nifty MidCap 150

  Current Level: 20,023  Upside Potential: 8.9%  Support: 19,760; 19,070; 18,223  Resistance: 20,450; 20.590; 21,050  The Nifty MidCap index gained 0.8 per cent in intra-day deals on Tuesday, and was seen quoting above its 100-DMA for the second straight trading session. Amid the recent fall, the MidCap index seems to have taken support around the 100-Weekly Moving Average (100-WMA), which now stands at 18,223, and then bounced back. CLICK HERE FOR THE CHART  The pullback can potentially extend towards 21,050 - 21,800 levels, suggests the weekly chart. Interim resistance for the index can be anticipated around 20,450 levels, and the 200-DMA at 20,590 levels. In case of a dip, the 100-DMA at 19,760 followed by the 20-DMA at 19,070 levels shall act as near-term support levels.   

Nifty SmallCap 250

  Current Level: 15,880  Upside Potential: 6.8%  Support: 15,100; 14,940  Resistance: 16,060  The Nifty SmallCap index is now within striking distance of its 100-DMA hurdle, which stands at 16,060 levels. The index will need to break and sustain above the same for a likely rally towards the 200-DMA, which also coincides with the key weekly super trend line resistance around 16,960 levels. Even as the index bounces back from oversold levels, chart hints that this could be a tough resistance for the SmallCap index to conquer.  For now, the bias is likely to be cautiously optimistic as long as the SmallCap index holds above the 100-WMA, which stands at 14,940 levels. Near support for the index exists at 15,100 levels. CLICK HERE FOR THE CHART