Markets may correct 10% from current levels: JM Financial
April 21st, 2009
Gautam Shah of JM Financial believes that bears are looking powerful at this stage, which means markets are due for a correction from the current levels. According to him, Nifty is likely to offer resistance at 3,490-3,500 level, while the Sensex may find it difficult to cross the 11,300-11,400 level.
Speaking exclusively to CNBC-TV18, Shah said markets may correct 10% from current levels folllowing which bear market will make a come back.
He advised investors to book profit at current levels. He reminded investors that the month of October and May have a bad track record, and “May might spoil the party for markets.”