Macquarie India's Head of Equities Sandeep Bhatia said Indian markets could fall another 10% in the next 3-6 months. "It is not only just earnings that are disappointing, our valuations are definitely very high," he stated. Nifty lost 324 points on Wednesday, plunging over 10% from its all-time high level in September. Sensex also lost 984 points.