Markets have been on a consolidation mode for quite some time after setting a new peak in Mid October 2021. This week started on a catastrophic note with Nifty losing a big 3% on valentines day while also coming close to breaking the important support of 16830. Thankfully the very next day closed with a (+3%) to prevent further damage on the downside. Smallcaps lost the most with (-3.15%) while Nifty 50 did well to close flat. Amongst the sectors, METALS & PSU BANKS lost about 4%. In the last one month, IT & REALTY have corrected by close to 10% each. It was indeed a tough week for all WeekendInvesting Strategies where the corrections continued. Let’s hope markets will be kind enough to help us get out of the drawdowns and close this FY on a strong note.
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