Sharper than expected correction in the offing: Experts

Markets closed flat today with Nifty ending at 8622 seeing a 0.16 percent decline while Sensex dropping by 0.08 percent ending at 27981. There is no justification to buy more, says Sanjiv Bhasin, IIFL. He is negative on the market in the short run. He sees a massive correction in Nifty of about 1000 points between August 15 and September 15. The market has reached a high point from where it may tend to move down, says market expert, Anand Tandon.  The positive effects of the goods and services tax may take around a year to come into effect, he says.SP Tulsian, sptulsian.com asks investors to stay away from the non-banking financial company (NBFC) space as he feels that have reached a peak and may need some time to cool down.Watch video for more.