CNX mid cap index is finding it difficult to move above its 2008 high of 6050. it has tried three times during last one year and all the times it has failed to make a new high this indicates that till decisive new high is made mid cap index will not go any where. Only one concern here is during the consolidation generally volumes would be less and on break out the volumes increases. But in this case the volumes are high during consolidation which is rare. So we have to see how it behaves but any breach of 5000 would spell doom for bulls and we can expect healthy correction in the index and also underlying stocks.So bulls have to wait for some time to dominate.

Mahiidar M

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