This is a Chart of BSE MidCaps/SmallCaps Index. We can see that a rally had started form September 2007 and had continued till first week of January 2008. We can see that the Index had got support at around 9400 levels and the mid cap should bounce back form here. At least there will be a relief rally which will take midcaps to 9750 levels and it may also touch its previous highs of 10200. If the midcap index do not cross its previous highs than there will be another round of sharp correction and the index will again touch 9400 levels. Further weakness will be observed only if midcap index breaks 9300 it may tumble upto 8200 levels which will be a Golden buying opportunity in the midcap stocks. I don't expect Mid caps to surpass this previous highs and in current month.
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