The Sensex closed Monday up 59.44 points, or 0.41%, at 14397.89, and the Nifty ended up 8.4 points, or 0.20%, at 4256.55. Asian markets are trading mixed and are generally flat in Tuesday's trade. Crude is trading down at 0.77% to 64.70 on the Nymex.

Anand Tandon of Gryffon Investment Advisors doesn’t see the markets giving up its gains in the near-term. “I don’t see the market giving up in a hurry in the near term. At the same time, I don’t think there is much that you can celebrate going forward,” he added.

Various sectors are touching their all-time highs and the broader markets are livelier despite the index moving in a narrow range, he said. “Right now you have various stocks, which are making new highs on alternate days. On different days, different stocks are going up and so on. You have a situation where the index may not be moving but the broad market has become a little livelier. If you have some stocks that you think are fundamentally good and you would want to stay on, then hang on. It is certainly not a place where you would add further on the asset allocation especially with a large pipeline of IPOs that are likely to come into the market,” Tandon added.

He feels investors should remain invested even if the bubble bursts. “Global markets are extremely buoyant inspite of what we may think of the US economy and of China. In US, the markets are not showing any signs of coming out. There is a wave of money that is chasing all kinds of assets whether it is emerging markets, real estate or commodities. As long as something doesn’t prick the bubble, you may celebrate and continue to remain invested. Even if something does prick, we will worry about it then,” he added.