While 46% of Nifty 50 stocks fell below 23rd December’s low, only 18.6% of NSE 500 stocks fell below their respective lows of the same day. Further, only 10% of small caps have a new low. Additionally, earnings performance analysis since 2020 shows that Nifty has given a positive return in January every time a negative return was seen in the last 15 days of December. Both these analyses encourage us to hunt for reversal chances in the coming weeks."
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