As Technicians we like to use the phrase “the bigger the base, the higher in space” when talking about breakouts from consolidations. Long periods of indecisive price action build a lot of potential energy that is then released once a stock breaks out of its range. This applies to any asset class on any timeframe because the psychology behind the pattern is exactly the same. The weight of the evidence continues to suggest we want to be long equities, so I’ve taken a look through the Nifty Midcap 150 and identified some of the best bases that are either breaking out or look poised to over the intermediate-term.
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