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During the week, 67 smallcap stocks had a good run with double digit gains, higher than that of the previous week. In the preceding week, about 50 smallcaps rose in double digits.
“However, other PSU stocks may require a correction of 5-10% for an ideal buying opportunity. Investors are advised to consider adding more of the mentioned stocks during any dips,” he says.
The Nifty Bank fell over 100 points on Friday as traders preferred to book profits at higher levels, but it closed with gains of nearly 1% for the week ended 23 February.
The banking index fell nearly 100 points and formed a Long-Legged Doji kind of candlestick pattern on the daily charts. The Nifty50 rose over 160 points to hit a fresh record high.
Stock market today: Nifty bounced back into positive territory and made yet another new high above 22200 zone.