Nifty can fall to 22,000 level, it’s a fair value: Pankaj Murarka

Veteran investor Pankaj Murarka said Indian economy is in middle of a cyclical slowdown, which might persist for another three-four quarters. "We are in mid-cycle of this bull market," he said. "Markets will spend some time in this consolidation phase. I still believe that [Nifty] can go to that 22,000-22,500 kind of level, which is a fair value," he added.