Indian stock markets continue to trade in green trading. Sensex is up 219.69 point or 0.42 percent at 53099.69 and Nifty adding 72.50 point or 0.46 percent as at 15906.90.The BSE Smallcap index grew by more than half a percentage and reached a new record high.The index grew more than 100 percent last year, compared to the Sensex's 47 percent increase in the same period.Live blog: Catch all the action in the marketThe smallcap index climbed to a new record high as stocks like Wonderla Holidays jumped more than 16 percent, followed by Force Motors and MSTC which jumped 12-16% each.Aditya Agarwala (Senior Technical Analyst at YESSECURITIES) stated that the broad markets have resumed outperformance against the Nifty50 index. The week saw a 0.47 percent gain in the midcap index and a 2 percent increase in the smallcap index."However, due to the constant outperformance by the smallcap index, it is approaching overbought territory (i.e. He said that RSI is nearing 80 levels, which had previously acted as a reversal area."He said that a longer time frame chart could indicate that the uptrend may enter a consolidation phase, or a minor correction wave. Market participants should therefore be cautious about entering markets at current levels, especially the larger market space.More than 450 midcap stocks, including Wonderla Holidays, HBL Power and NESCO, Indo Count Industries TVS Electronics, TVS Electronics and Igarashi Motors have all reached a 52 week high on BSE.500 stocks from the smallcap index, however, have reached the upper circuit, including JP Power and GTL Infra.Moneycontrol.com's investment experts may share their opinions and tips, but they are not the views of the site or its management. Moneycontrol.com recommends that users consult certified experts before making any investment decisions.
