Nifty may fall below 8000; buy not before May end: Experts

The Indian marker tumbled Friday with the Sensex losing 209 points to close at 28261 and the Nifty shedding 64 points to end the day around 8571. Speaking to CNBC-TV18, Jai Bala of 1857 Advisors said the current correction in the market is expected to be longer and deeper than the one seen in the past.

According to him, Nifty is likely to fall down to 8270 or even below 8000 going ahead. However, the bull market phenomenon remains intact, he added.

Adding to the discussion, Dipan Mehta, member, BSE & NSE said the correction in midcaps today indicates caution in coming days. He maintains his bearish stance on the market due to lack of triggers over the next few days.

Mehta said buying opportunity will come somewhere by the end of May as stocks would have corrected significantly by then. He likes midcap private banks, large cap pharma and IT now.