Midcap index has not performed well this year.
Nifty has crossed all time high multiple times
but midcap index has not even touched previou
highs yet.
Midcap index has grossly underperformed nifty
for now.Lets see the wave pattern of midcap index .
Midcap index had made a high of 21840 and made a low of 17700 .A 19% correction from top.Friday it closed at 19443 so it has recovered back. Wavewise this has done abc with clear internal waves.
Its near to 200dma ie 19528 ,Which should act as resistance a close above this can further propel index towards 20350. Index is trading above slanting channel trendline a retest of this trendline can give confidence to this rally spreading further,Lets see how midcap index moves in coming weeks .Keep laggard midcaps on radar if the resistance is crossed they can run up.
Please comment on Future Enterprises Ltd.
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