Consolidation remained the theme in today's trading session, as major equity benchmarks Nifty and Sensex both ended the day around 0.40 percent less than yesterday's closing.
The fall in market momentum will only increase as the days go by and "we are getting ready for a strong downside correction," says market expert Ashwani Gujral.
In an interview with CNBC-TV18, Gujral said that Nifty could correct to levels of 8150 which will feel like a 'pretty big crash'.
"We are sitting ready for the crash of our lives," he added.
In the same interview, Mehraboon Irani of Nirmal Bang Securities said that he remains to be positive on the market and sees an improvement in the second quarter earnings.
He said that a 6-7 percent correction on the Nifty should bring down midcap stocks by around 15-20 percent from their highs and this should provide a buying opportunity.Watch video for more.
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