This is the second-worst performance by the pack during this period over the last five years since CY20.
Technical charts indicate a possibility of a meaningful correction in the upcoming months.
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''It's crucial to adhere to your trading plan, even when faced with emotional turmoil.' 'The market can be incredibly volatile and it's easy to get swayed by fear and greed.'
It has mostly been a one-way street for smallcap stocks that have taken it on their chin thus far in February. The Nifty Smallcap 250 index has shed 3.2 per cent in the current month as compared to the 1.8 per cent decline in the Nifty Midcap 100 and the 0.5 per cent drop in the Nifty 50 index, data showed. Technically, the index has slipped below its 20-day moving average (DMA) placed at 14,800 levels on Monday, and is currently testing the 50-DMA, and is placed at 14,278 levels.
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
What exactly is technical analysis and is it completely non-subjective?
Time to take profits and move to the sidelines in an euphoria, says Sonali Ranade
