Since early July stocks in India have come under more selling pressure, with the Mid-Caps and Small-Cap indices falling roughly 10% and the large-cap Nifty 50 falling about 6%.
This has exacerbated the relative underperformance of India versus other Emerging Markets which it had been outperforming up until late May.
Prices in many of the major indices are now approaching critical levels of support, begging the question will buyers will step in again to defend these levels or is more selling ahead?