Market expects correction soon

Marketmen expect a correction in the next few weeks though nearly everyone thinks that the bull run will continue.

Ved Prakash Chaturvedi, chief investment officer, Tata Mutual Fund, said: "From the short-term perspective, valuations look over-stretched, and corrections can be expected in the next few weeks. We have advised our clients to enter with a long-term perspective of over three years. However, the fundamentals are still strong."

Deena A Mehta, managing director, Asit C Mehta Investments, said: "There is room for caution, but nothing indicates that the market will collapse."

Kris Director Arun Kejriwal lends his voice to the feeling that a correction will take place. "The markets will be on fire on Monday and the index will open with a gap in the aftermath of the South Asian Association of Regional Corporation (Saarc) Summit. Though this is a different kind of bull run we are witnessing, a correction is overdue, after which the market will rise again. Before that the closing target of 6,150 for the Sensex and 2000 for the Nifty will be reached. The correction will also be longer. This should be used to book profits. Buying opportunities will emerge."