The Nifty MidCap Select index has demonstrated robust performance in 2026, gaining approximately 4% year-to-date and hitting a new all-time high of 14,590 on May 8, 2026. In contrast, the Nifty 50 and Nifty 500 indices have seen declines of 8.9% and 4.5%, respectively. Senior Technical Research Analyst Virat Jagad from Bonanza indicates a strong bullish structure for the MidCap index, suggesting potential upside targets of 14,800 and 15,200. He recommends adopting a 'Buy on dips' strategy, emphasizing that as long as the index remains above key support levels of 14,200–14,250, the overall trend will likely remain positive. The Nifty SmallCap 50 index is also showing signs of recovery, trading nearly 9% below its all-time high, with targets set at 9,800 and 10,200 if it breaks above the current resistance zone of 9,250–9,300. Jagad cautions that some profit booking may occur after the recent rally.