The Nifty and Sensex ended flat at 16,282 and 54,525 respectively. On Monday, BSE Ltd had placed additional price limits on securities to curb excessive price movement, leading to sharp selloff in midcap and smallcap stocks. We are in a structural bull market where this kind of shakeout phase will be part of this journey. We reiterate our view to prefer index majors and quality midcap for short-term bets until the broader market stabilises and suggest maintaining few short positions also. Investors, on the other hand, should not worry about the recent correction and use this phase to accumulate quality stocks on dips."

Source: Mint August 11, 2021 12:11 UTC