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Nifty at 15,500? PhillipCapital sees 6,500-point correction in worst-case scenario; here’s why
In the worst-case scenario, Nifty could test 16,000-15,500 levels, a 6,523 points or 30% fall. In this case, the timewise correction can last for a maximum of 6-7 quarters. The brokerage house sees signs of exhaustion noting that the markets remain 'highly overbought' on a long-term time frame.