update

Bulls likely to take a breather:

Indian equities are likely take a breather after their fantastic run, which saw the Nifty and Sensex touching record highs, on long overdue profit-taking triggered by global uncertainty and high valuations. The market needs a correction. Market has had a great run and if the market is really going to be a structured bull-market we need a correction.According to market poll majority of market participants expect a correction to the tune of 3-7 percent is looming. Pros believe the Nifty could fall to 7,050-7220 points and the Sensex to 24,200 levels over the next few weeks if the recent weakness persists. However, they add, this fall could be a good time for investors to start buying shares of firms with good fundamentals.