Nifty midcap, Nifty JR analysis for 16/10/2026

1. Nifty Midcap Select Index Spot Price: 13,722 Technical Setup & Market StructurePrimary Trend (Bearish Bias): The index is currently trading below its key resistance/pivot zone of 13,900. As long as price action remains below 13,900, the prevailing short/bearish structure remains intact. Hold Short Strategy: The setup advises keeping short positions active while price action remains underneath 13,900. Conditional Breakout (Long Trigger): A long position is only triggered if price breaks and closes decisively above 13,900. 2. Nifty Next 50 (Nifty JR) Index Spot Price: 68,671 Technical Setup & Market Structure Primary Trend (Bearish Bias): The index is consolidating below its key psychological and structural resistance zone at 69,500. The dominant signal remains bearish/short until proven otherwise. Hold Short Strategy: Short positions should be held as long as the index trades below 69,500. Conditional Breakout (Long Trigger): Long trades are strictly conditional upon a breakout above 69,500. F&O top gainer was :