At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.

The market may enter a quiet period in November move sideways, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. The news has dried up (the P-note issue, corporate results) and FII funds will slowdown.

There are a lot of IPOs expected to be announced in November so funds may get diverted, says Sachin Shah of Motilal Oswal Securities, on CNBC TV18. The companies that have posted good results could be accumulated in the portfolio from the midcap and smallcap segments.

After the sharp run up, the market will see a slowdown in momentum and move into consolidation, says Harendra Kumar of ICICI Direct, on CNBC TV18. The market has witnessed large cash players who have been playing safe and taking profits off the table.