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Below is quote on Broader market selloff, Nifty down by 170 points at 18042 by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd   

Broader market selloff, Nifty down by 170 points at 18042

Nifty down by more than 600 points from its highs of 18604 in the last 8 trading sessions. Nifty midcap 100 and Nifty smallcap 100 have seen the selling pressure and both down by 10% in the last 8 days. While Banknifty was showing strength on the back of better than expected results from several stocks but now Banknifty is also losing the momentum and is down 1.45% today. We expect the market to be volatile in the coming weeks and we expect selling pressure to continue in the broader market. We suggest investors be cautious on the market, look for profit booking and avoid buy on dip strategy.

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