Mid-, Small-Caps: Correction coming to an end; Time to buy, says Nuvama

Nuvama Institutional Equities, in report based on technical analysis, expects the Nifty MidCap to turn bullish above 48,100 and SmallCap above 15,400 levels.

Equity markets, the mid- and small-cap stocks, in particular have witnessed a correction in month of March, while the frontline stocks outperformed. The NSE MidCap 100 index so far this month has declined 2.1 per cent, and the Nifty SmallCap 100 has shed 5.8 per cent. In comparison, the Nifty 50 has gained 0.3 per cent.

Experts Analysts attribute to the correction in the broader market to profit-taking and valuation discomfort in select stocks. 

Having said that, Manav Chopra, Director - Technical Analyst of Nuvama Institutional Equities believes that the correction phase in the Mid- and SmallCap segment, is coming