nifty midcap - 2hr - climb below the trendline - 5th wave

typical 5th wave behavior (of some degree)
Fall below the core trend and wriggle up from below.
If this is the right view, time to be very cautious here. Lots of froth

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Midcaps down almost 3% today. That was a good time to derisk

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Inex down quite a bit
Global mkts are oversold so closing this

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