It's party time for the markets again! After scaling new highs everyday for three consecutive trading sessions, the markets are the doorsteps of another milestone - 13,000. The Sensex closed at 12,928.18 up 191.76.
So will the markets continue to conquer new peaks or is it time for a correction? Experts opine.
Nilesh Vasa of CD Equisearch does not recommend buying at these levels as he feels there could be a bit of bout of correction. "If you are looking at the next one or two weeks that is different, but maybe over the next one or two months that correction would definitely be setting in," he says.
But otherwise he suggests that one should possibly wait for a bit of a correction because at the moment the market looks momentum and more liquidity driven on the hedge fund side.
Sandeepa Arora of India Infoline was happy with the markets because she felt there was still a lot of sceptism there. But now, she is cautious.
"In the last couple of months, we have seen crude prices coming down and the fears of interest rates going up is also now lesser and we are seeing slightly more benign interest rate structure coming in. So I think in that sense scepticism has gone, and that's what makes me cautious," she says.
At this point of time, she advises a little caution because the markets are close to 13,000-13,500, which is an expensive band. But she sees a possibility that there could be a band of about 12,500 to 13,500, in which one could see midcaps providing value and growth from hereon.
"So while we are bullish on long-term basis, I think short-term we are closer to a fair price band," she says.
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