Nifty MidCap sees breakdown, can dip 8%; SmallCap clinches to key support

The Nifty MidCap index can slip another 4%, or extend the fall towards 19,600; hints the technical chart. The SmallCap index is yet to confirm a downside breakout.

Equity benchmark indices have been grappling with fears of a likely all-out war between Israel-Iran as the conflict now completes a week. Amid the consolidation, the National Stock Exchange (NSE) benchmark index has declined over 1.5 per cent from its recent high of 25,222 registered last week; while the broader indices - the Nifty MidCap 150 and the Nifty SmallCap 250 were down close to 3 per cent each.  The Nifty MidCap index, in particular, has flagged a bearish signal on the technical charts, as it closed below the trend line support on Wednesday. On