Ajay Srivastava of Dimensions Consulting says that the market was looking for some confidence from Reliance, which it has got. Therefore, he believes that the markets are well poised.

He says that the market has factored in phenomenal earnings from the tech counter and from Reliance.

He is bullish on the cement pack, and says that cement prices are going to hold at current levels for the next six months or so.

He is advising customers not to commit more funds currently; rather he suggests reallocating money in one’s portfolio.

"The run up has been fast and furious; there is total irrational exuberance in about 80% of the counters and 10% are good fundamental counters. So our strategy at this point is that stay with the market, but don’t commit more capital- reallocate the portfolios. We are not happy with what’s happening with the market today," he explains.