Analysts see limited downside for markets from here

It has been a rollercoaster ride for the markets thus far in calendar year 2018 (CY18). Amid intermittent bouts of recovery marked with volatility, the S&P BSE Sensex at 33,129 levels has corrected around 9 per cent from its record high level of 36,444 touched on January 29, 2018 in intra-day deals. 

The fall in the mid-and small-cap segments has been sharper with the S&P BSE Midcap and the S&P BSE Small-cap indices slipping 13 per cent and 14 per cent, respectively, from their peak levels hit in early CY18.

So, are we gradually heading towards a bear phase? Typically,