*NIFTY MIDCAP 100 -* ▪Both in Nifty and Bank Nifty we got a higher high formation for shorter time frame but here we are yet to register that same to get bottomed out. ▪As of now holding 53040 would be crucial and on higher side need to breach 55255-55855 band to get bottomed out. ▪So the simple equation here is we either break 53040 or 55855 to decide further course of action. As of now chances to rally are higher and hence avoiding fresh shorts at these levels would be smart move.