The BSE Mid Cap index, MIDCAP has broken through the resistance of 7669.64 and trading above 200 day simple moving average. It has started to rise after a correcton. The MACD has crossed above the signal line but still is below the zero line. The RSI is also rising and is at 48.13. The +DI has crossed -DI in above direction, all these are bullish signs. The only major combined resistance posed by 50 and 100 day simple moving average is at 8041.04. From level 7669.64 to 8041.04 i.e. 4.84%, there is no resistance, One can trade safely in this period in selective mid cap stocks. After this level is broken then the bulls will be in dominance.
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