Can midcap and smallcap indices decline 5-10% from here? Rohit Srivastava explains

economictimes.indiatimes.com:

Rohit Srivastava, Strike Money Analytics & Indiacharts, says “March is the last month of the financial year and once profit booking has started, it will remain for a while, till the later part of the month. This is something to be aware of that the pressure may not end in a day. Will it also spread to the Nifty, that is the second question I am getting because early in the morning Nifty was not selling off and Bank Nifty is still positive today. In 2018, we saw such divergences between the Nifty and smallcap. But usually, when one is falling a lot, the other one eventually gives in.”

You have been sounding slightly cautious on the market for the last few sessions. Witnessing the broader market action today, where do you see the midcap, smallcap index setup heading? Can they decline 5-10% from here?
Rohit Srivastava: Surely, it is a reminder whether it is a stock market or a market of stocks. So, when we actually put out an outlook and people are only looking at the Nifty, then sort of they miss out what is happening below the surface, that is the participation of stocks and sectors was slowly going down over the last month or two.

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This thing has taken very long to play out because since January, I have been thinking that we would start a corrective process, but