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CNX Midcap Aiming for 76,800 in Wave 5 Rally

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Free nse cnxmidcap chart calls
Free nse cnxmidcap chart calls
Figure 1. NSE CNX MIDCAP Wave 5 Projection

CNX Midcap is moving inside a strong rising channel, indicating a clear long-term uptrend. Wave 4 ended around 46,865, and the index has been climbing steadily since then. The current structure suggests it is in Wave (iii) of the larger Wave 5. Upside levels are seen near 69,500 and then 76,800 based on Fibonacci extensions. A short consolidation or pullback is likely later as Wave (iv) develops. Overall, the trend remains bullish as long as the price stays above the mid-channel support.

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