Sensex, Nifty cross their respective highs, will see a major breakout

The S&P BSE Sensex ended with a mild cut of 53 points or 0.15 per cent on Friday. The Nifty50 index closed 22 points or 0.21 per cent lower at 11,035. Indices traded flat with unchanged scenario having normal volatility. However, both the indices closed with strong gains on a weekly scale, rising more than 1 per cent.

The underline trend seems positive as indices trade above the crucial moving averages i.e 200-day moving average (DMA), 100-DMA and 50-DMA. It helps to identify the sentiment of the market.  

Nifty50: The index is trading closer to its previous high of 11,118