Sensex has taken support at the 200 dma for the 2nd time in 10 sessions

Sensex has taken good support at the 200 dma (12545 level today). This moving average is now very important and if Sensex remains above this Bulls should be happy. US mkts are buoyant today and that may cause Sensex to rally. Upsides may see selling pressure at 12800 -13100. The price action is enclosed in downward sloping triangle. MACD is in negative territory and a fresh sell will have bearish implications.