Nifty Midcap Select: Are analyst projections an indication of an impending correction?

Corrections or what a phase of profit booking is something which is very common and healthy in the markets. The question is whether the correction should be used as an opportunity to take fresh positions or not. In the last couple of weeks a debate has started on the street that large cap stocks have done nothing in the last two years, whereas mid-cap has given stellar returns during the same period. The question is whether one should expect the same performance to continue or should one go by logic that because something has done well in the last two years the law of averages will prevail which essentially means that there is a low probability the same returns will come in the next one or two years.