Mid, smallcaps worrying; 7200 strong support for Nifty

The stock market is witnessing mayhem because of global turmoil and over-buying in midcaps and smallcaps,7200 as a strong support level for the Nifty. On  HDFC Bank the market capitalisation is now equal to the entire PSU banks market capitalisation. a lot of global factors are definitely pointing at emerging market selling, emerging market growth completely slowing down, maybe impacting global markets, global market bonds having some issues because of the oil and commodity bonds within that and so on and so forth, but, there is no catastrophic event which is actually happened.

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