The Nifty midcap50 trading near support on daily chart last time also bounce from this level and now again Midcap index can bounce from 4,300 level. Midcap near support this is good for Index but Nifty and Banknifty not near support this can cause of downside in midcap. Midcap can break these support if Nifty try to catch support. Midcap index facing resistance at level 4,700-4,600 level.
The nifty weekly chart has strong support at level 4,100 and this level will be the most important level for midcap if index break this level we can see another 10-20% fall in the midcap sector. Currently Midcap have range 4,200-4,800 level.