Nifty Midcap 100 is at Monthly parallel channel resistance.
In the past Nifty midcap 100 monthly RSI has crossed 79, 7 times and every time we have seen a descent correction. Currently, the Monthly RSI is near 78 again.
Year Correction
2004 27%
2005 13%
2006 38%
2008 68%
2015 16%
2018 50%
2022 25%
The Nifty Midcap space has shown constant Green candles for the past 6 months.
If not correction we may at least see some pullback months.
In the past Nifty midcap 100 monthly RSI has crossed 79, 7 times and every time we have seen a descent correction. Currently, the Monthly RSI is near 78 again.
Year Correction
2004 27%
2005 13%
2006 38%
2008 68%
2015 16%
2018 50%
2022 25%
The Nifty Midcap space has shown constant Green candles for the past 6 months.
If not correction we may at least see some pullback months.