Mid Cap Nifty Expressway: should we getoff?

Jul 22Midcap Nifty has been a one way streak since it's Inception for trading. The index is following higher highs and highest lows pattern for a very long period. The drawings on the chart shows a channel which may be helpful for retracement after the announcement of Union Budget 2024. However, immediate reversal are not more likely but gradually we may see profit booking in the midcap stocks, which may further result in reversal in the index.