Nifty50, MidCap Select index show promising setups: Check trading strategy

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Nifty50, MidCap Select index show promising setups: Check trading strategy - Business Standard

Quick Summary:

If the lower level of the range at 24700 is broken, it is likely to trigger a positive move on the RSI, further enhancing the possibility of a bullish divergence on RSI resulting a buy for near term.

While this might signal indecisiveness in the market, the unique setup of multiple technical indicators suggests that a bullish breakout could be imminent.

On the upside, the index is expected to face resistance at 13180, 13275, and 13575, which are ideal levels for booking profits.