MUMBAI, March 12 -- Ace investor Vijay Kedia expects Indian markets to hold above their 52-week bottom made in April last year, even as the latest correction rattles retail and wealthy investors.

"I have a gut feeling that markets would not break the low we saw last April," said the investor when Mint asked how deep the present correction could run.

The Nifty has fallen 9.5% from its record high of 26,373.2 on 5 January this year to 23,866.85 on Wednesday. On Thursday, the index was down around 1%.

The benchmark index had hit a low of 21,743.65 on 7 April last year, six months after touching a record 26,277.35 on 27 September 2024. The 17% drawdown came after an intense spell of foreign institutional selling amid fears that global tari...