January 6, 2017 / 5:44 AM / 10 months ago

BUZZ-India's NSE index tops 8300, technicals suggest more upside

** India’s broader NSE Index, which has gained more than 1 pct this week, might see more upside, technical charts show

** The index has bounced back from around 7,890 level twice, and if it closes above the Dec. 9 high of 8,275, a double-bottom reversal is possible reut.rs/2hYJIry

** Index crossed above its 200-day exponential moving average on Thursday, a positive for the index

** MACD has turned positive and is above its signal line, another positive for the index

** The BSE index also hits highest level since Nov.11 and further upside is seen

** BSE index also shows signs of double-bottom reversal formation after finding support near Nov 21, 2016 low of 25,717.93 and breaking above the Dec. 9 high of 26,803.76 on Thursday (reut.rs/2hYOLZ3)

** Index is trading above its 200-day EMA after breaking it on Thursday

** MACD is positive and above its signal line

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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