Nifty Midcap is attempting yet another breakout of a strong channel that acted as resistance multiple times. The recovery here has been weak compared to LargeCaps and hence a breakout may be sold into. What happens thereafter is the key.
If midcaps dont correct muach in the next wave of correction of Nifty, the set up is such that in the next rally, Midcaps should make a clean breakout
Regards
Srikanth
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Breakout is clearly in place. Lets see how far it goes