Nifty OutlookBanking continues to impress; but some distortion in midcap indexThe week started with a decent bump up which was then followed by yet another gap-up on Tuesday to reach new milestone of 18,600. However, the high-beta midcap counters (recent movers) started correcting fiercely, which dampened the overall sentiment in the market.The Nifty had a rub-off effect of this and in the process; it came off slightly in the following couple of sessions as well. Thursday morning, the global markets were a bit stable and as a result, our markets opened with a decent upside gap, exceeded the SGX Nifty by a fair margin. However it was merely a formality as we not only saw Nifty erasing all gains but also went on to slide below 18,100 during the penultimate hour.Fortunately due to a late recovery in some of the heavyweights, Nifty