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Pro-cyclicals expected to drive-up market rally
TIWN
Pro-cyclicals expected to drive-up market rally
PHOTO : TIWN

Mumbai, Nov 17 (TIWN) Pro-cyclicals stocks along with faster recovery and the recently announced stimulus are expected to further drive-up the recent market rally.

However, market observers cautioned about an impending correction due to expensive propositions.  "Nifty has closed at all time high and has shown a lot of strength and resilience in the latest upmove," said Deepak Jasani- Head of Retail Research at HDFC Securities.  "Going by the momentum we can expect some more upmove although the short term technical indicators have turned extremely overbought and hence could suggest a correction soon."

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