According to Ravi Nathani, an independent technical analyst, while the Nifty Midcap index has strong resistance around 10,125 level.
ITC and Tata Motors have zoomed 33 per cent each since December 1, and have led the rally in the 30-pack index
Zydus Lifesciences, in particular, has been scaling 52-week highs with momentum staying highly elevated. Also, Aurobindo Pharma shares have seen a steeper rise, with aggressive chart structures.
Both shed 0.6% but end in green for second straight week; Broader markets play catch-up
Nifty Midcap 100, Nifty Smallcap 100 struggle even as markets make new highs
ADTV for cash segment lowest since Feb 2020; retail participation hit, say analysts
There is strong support for Sensex at 58,000-59,000 and Nifty at 17,000-17,300
Right Horizon's Minerva India Underserved continued its dream run, gaining 13.1 per cent in August
For the first time since January, the three key indices representing the broader market - Nifty 500, Nifty Midcap 100, and Nifty Smallcap 100 - outperformed the benchmark Nifty 50 index
But look at quality of management, and another one unique to this crisis is finding businesses which will emerge stronger
Expect broader markets to bottom out, with valuations capping further downside
The Nifty Midcap closed 5 per cent lower, while the Nifty Smallcap fell about 11 per cent.
The Nifty Midcaps 150 is down by 6.05% and the Nifty Smallcaps 250 is down by 6.5%
Biocon, Indraprastha Gas, Natco Pharma, Sun TV and Vakrangee hit record highs.