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Midcaps Going to Extend

7 Aug 2020 ‚óŹ 06:37 AM

I will discuss the big picture in the Long Short report but the Midcap bear market that was 2 and a half years long ended and is seeing a smart recovery and valuations here are lower. The wave count on the Midcap index is different from the Nifty I think. I was trying to mark it similarly till a while back but I think this maybe more correct. Wvae 2 of 3 ended recently at the July low and it is starting wave 3 of 3 as of now. This chart is of the NSE midcap 50 index, and 3=1 goes to 5150. So expect the broad market to be very strong in the weeks ahead. This is an hourly chart

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