PL Technical Research: NIFTY MIDCAP 100 - INDEX VIEW

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL Technical Research: NIFTY MIDCAP100 cmp: 39820, the midcap index has been moving within a range for quite some time between the levels of 40900 and 39500 zone and recently, once again with profit booking happening, we have witnessed a slide from 40900 zone to shed gains and further downside a breach below the crucial 39500 zone shall weaken the trend which is also where the significant 50EMA zone is positioned. So one can watch for this 39500 zone and a decisive breach below can further see slide towards 38400 and 37700 levels.