The index has given a breakout above its resistance trendline as well as its critical resistance level of 10,773 points. Moreover this breakout has come in with a volume which, as highlighted earlier, suggests further upside.
The Stochastic Oscillator maintains its uptrend as well as its buy signal, while the RSI has edged into the overbought region. Also the MACD has reversed and has once again generated a buy signal.
Now that the index has given a breakout, we suggest a buy with a potential swing towards 11,300 to 11,500 points
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