BSE Midcap Index

The BSE MidCap index is in the 5th wave inside the channel from May 2020. Within wave 5, iii=i, and we are in wave v, where v=i points to 17,277. This would be just below the yellow channel line at 17,580. The daily RSI is already at 83 and the relentless rally may continue to push it higher till wave v of 5 completes. Enjoy the ride till at last. In blow-off moves sometimes Midcaps can also overshoot and in fact, they always did so in the old days. So if the move goes on till beyond the yellow line too I would not be surprised. It is a test of patience.