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Monday, April 25, 2011


  

BSEMIDCAP-21/04/11

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BSE MIDCAP broken out of bullish triangle on Upside as per my view mentioned on 16\03\2011. It has rose around 10% from recommended levels i.e. -6467.86 on 15\03\2011.
It close at very crucial levels at 7235.33 on 21\04\2011

IN BSEMIDCAP 40WEMA is @ 7171.42 levels. Historically whenever it has surpassed & closed above or below either of side, directional TREND continues as per chart attached.

It closed 7235.33 on 21\04\2011 (weekly close) above 40WEMA, manage to hold it above 40WEMA as level mentioned above will lead to new rally in the market & that will surpass previous high i.e. - 8791.10 on 11/11/2010 eventually.

Selected BSE Midcap stock will out perform return wise, if rally continues from here on. One should BUY or accumulate Midcap stock in decline till Trend Reverse.
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