It was an extremely dark day for markets with Sensex breaching the January lows of 15332. Globally equity markets have seen a sell off but India has underperformed its peers today.
Falguni Nayar, MD at Kotak Mahindra Capital says that the overall market has corrected a lot and there could be further downside from here, however valuations still seem quite attractive and they are only going to become better.
Technical Analyst, Ashwani Gujral feels that for Nifty the 4,527 is crucial. He adds, “Markets are probably heading for a 50% correction and the level for the Nifty could be around 3,626 and around say about 12,000 on the Sensex.”
Excerpts from CNBC-TV18’s interview with Falguni Nayar and Ashwani Gujral:
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