BHEL, Adani Power: Mid-cap index hits new all-time high, eyes 40,000-mark

The Mid-cap index is displaying robust momentum, with price action headed towards 40,000-level.

Mid-cap index hit a new historic peak on Wednesday, despite benchmark indices witnessing unpredictable outlook. The index has surged 23 per cent so far this year and remains one of the highly dominating indexes in the Indian stock market. 

Among its major constituents, Bharat Forge and Oil India reached new all-time high, implying robust momentum in play.  Likewise, Adani Power and Bharat Heavy Electricals become the most noticeable counter in recent months.

Here’s the technical outlook amid Mid-cap index striking new all-time high:-

Nifty Midcap 100

Outlook: towards 40,000

Despite the index experiencing selling pressure in the overbought category