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Be vigilant on Mid and Small Cap Frontier

Stay cautious on midcap space - Udayan Mukherjee of CNBC TV 18 (CNBC TV18, Moneycontrol.com 9th Jan 2008) The US markets have been down for 4 out of the past 5 days, but the Asian markets are not sulking; only some of them are down. The midcap space is not looking good for the last 3 days, there was a complete selloff yesterday. That space needs to be watched.
Our markets:
We have twin hangover, of the midcaps sell off yesterday and the US markets sell off overnight. Not that Asia is sulking very much this morning. The Asian markets are down but not a whole lot. So we are dealing with US pain quite okay and quite well this morning but even so this is yet another sell off in the US markets and no redemption from there at all. Yesterday the Sensex might have been flat but the midcap and the smallcap indices got clobbered. So that’s the space one needs to watch extremely closely, as we go into trade today.
It’s not been looking very good for the last three days for midcaps and yesterday was a complete sell-off and that’s the space we will watch closely today. If it stabilizes then good for us and we can carryon from there. I think that situation is far more important than what’s going on globally. Read the complete story
Erosion in midcaps, smallcaps to continue: Gryffon Invt (CNBC TV 18, Moneycontrol.com 9th Jan 2008) Speaking to CNBC-TV18, Anand Tandon, Gryffon Investment Advisors, said that he expects the erosion in smallcaps and midcaps to continue. There has been an almost 40% rise in smallcaps and 20% rise in midcaps. And therefore we may see erosion, he added. Right now, the largecaps are looking under heavy weather, Tandon opined. But the consensus is that they would go higher, he added. >Read the complete Interview
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