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Despite the rebound, we feel the market has not reached its bottom, since price patterns on the Nifty50 show that the uptrend has been significantly harmed, said Yesha Shah, Head of Equity Research, Samco Securities.

Keeping the target between 16,600 to 16,800, we feel traders can go for the Bull call ladder strategy where maximum profit will be made between 16,600 to 16,800. However, one needs to be careful on the higher side also as strategy will start making a loss if Nifty moves above 17,000 in the current settlement.

If we look at the trend of new clients of net-based brokerages, they seem to be young digital natives in their mid-20s. This is a very good age to come to the market and build an equity portfolio in a healthy manner over a long period. The strong momentum in white-collar jobs, particularly in IT and other sectors further provides support to this trend.

Benchmark indices- BSE Sensex and Nifty50 settled about 3 per cent higher each, whereas the midcap index also surged 3 per cent during the week. However, smallcap peers outperformed the bigger indices gaining 4 per cent during the period

The Relative Strength Index (RSI) on the daily chart is 44.36. RSI is neutral and does not show any divergence against the price. However, it is seen breaking out from a small pattern formation after making a higher high which is bullish.

This price drop comes as the global financial markets have entered bear market territory for the first time since early 2020. There are many contributing factors to the decline in the Bitcoin price.

The company had on Saturday reported 6.93 per cent fall in consolidated net profit at Rs 199.44 crore for the fourth quarter ended March 31, 2022.The company had posted a net profit of Rs 214.31 crore for the year-ago period, as per the filing

The Rs 412.8 crore IPO of eMudhra had kicked off for subscription on Friday, May 20. The company is selling its shares in the range of Rs 243-256 apiece. The issue is open for subscription till Tuesday, May 24.Given the fall in the global market and the poor listing and post-listing performance of LIC

“My skew has been more towards mid and smallcap generally and hence I advise investors to first have a long-term view. Do not look at the short-term volatility. It can be more volatile because these are smallcap segments but on a long-term curve, the volatility reduces and the return profile improves.”

Nifty has lost about 13 per cent from April highs due to a host of domestic and global factors, including mixed Q4 numbers from India Inc, rising inflation, crude oil prices, geopolitical worries and rate hikes.