Market will move to lower levels

The market has seen a sharp slide on account of profit booking. Sensex is trading at 15477, down 426 points and Nifty is at 4574, down 120 points from the previous close. The market breadth is negative with advances at 396 against declines of 850 on the BSE

The market may see some more correction of 100 points on the Nifty, says Sharmila Joshi, investment advisor, on NDTV Profit. The market has seen profit booking and basket selling today, she adds

House View:In our post on 29 July we had predicted market is losing momentum and we see lower levels. Market heading lower We still hold market is overheated and it needs to correct to 13,500 -13,800 levels before continuing upwards (Around Diwali time.) May wait to enter around 14,000-14,200 levels and should exit/ book profits now.
Disclosures: No personal holdings
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