Banking continues to impress; but some distortion in midcap index
The week started with a decent bump up which was then followed by yet another gap-up on Tuesday to reach new milestone of 18,600. However, the high-beta midcap counters (recent movers) started correcting fiercely, which dampened the overall sentiment in the market. The Nifty had a rub-off effect of this and in the process; it came off slightly in the following couple of sessions as well.
From 19th Oct 2021 High to 25th Oct 2021 12.30 pm Nifty 18604.45 to 18140 = -464 Nifty Bank 40011.15 to 41511 = +1500
Almost Divergent of 6.25%
Confusing Market
Should we book profit or people waiting on sideline should use this opportunity.........