Markets are
relentlessly scaling new highs with Nifty-50 breaching the 14,000 level and Sensex
close to the 48000 mark. Global cues have remained positive for most Asian
markets with MSCI Emerging Markets reporting 2.9% gains this week. Expect
the Nifty-50 to go somewhere midway of the 14,000 to 15,000 range in January.
Markets are currently riding on the back of optimism
over economic recovery, liquidity and stimulus support, and vaccine
developments.
"We advise investors to remain long but at
the same time cautious as chances of technical correction cannot be ruled out.Considering the sharp runup, we expect that the markets would consolidate in
the near term. We suggest continuing with the overall uptrend and using dips to
add quality counters."
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