Medium-Term Outlook on Mid Select Nifty

The index has been in a larger uptrend, interrupted by a short-term correction. The index has exhibited an interesting pattern - a positive reversal along with a positive divergence, which has bullish implications in both the short term and medium term. Prices are trying to make a higher low in comparison to 12046.20, made in April 2026, along with forming a bullish divergence pattern (prices making lower lows and RSI making higher lows). This pattern generally results in the formation of all-time highs whenever it's seen. This pattern might extend for another week or so before the index starts moving higher. However, I expect the index to make fresh all-time highs before breaking 12046.20 on the downside in the next 3 to 6 months.

Strategy: Accumulate Mid Select Nifty based ETFs around current levels with a stop-loss of 12046.20, targeting 15100 and 15400 in the next 3 to 6 months.

ADITYA THUKRAL, PROPRIETOR, AT RESEARCH AND RISK MANAGERS
SEBI Registered Research Analyst INH000013794

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