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The Nifty50 has witnessed a fall of almost 11 percent from the all-time high of 11,171 registered in January 2018 to the recent bottom of 9,951.
The Nifty Midcap and Smallcap indices plunged 16 percent and 21 percent, respectively. Many stocks have seen a fall of than 40 percent from their 3-month highs.
Due to this panic selling, stocks have turned extremely oversold on the daily as well as weekly charts. As a result, we saw markets started rebounding from Monday.
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