In fact investors sitting on the sidelines can use this opportunity to enter the market, says Dipan Mehta.
Pharma currently is an under-owned sector and if one is willing to put fresh money for the long-term then they can, says market expert Anand Tandon.
One should be cautious on microcap, smallcap and poor management companies, says Rajesh Kothari Managing Director AlfAccurate Advisors.
Independent market expert Ambareesh Baliga says this is a traders market and so it is better to take your profits on a daily basis.
The Sensex was up 151.15 points at 32423.76, while the Nifty was up 67.70 points at 10153.10.
It is a market which is positively biased, so one can trade with long bias on a stock specific basis and once the index breaks into fresh highs then trade on the index, says Mitessh Thakkar.
Ashwani Gujral of ashwanigujral.com is not convinced of the market breakout because it seems to have taken place on back of a likely deal for easing tensions created by North Korea.
If tomorrow we are able to hold above 9980 on the Nifty, then we will at least make one attempt of a bounce from that level, says Ashwani Gujral.
Liquidity can take the market to higher levels but it needs the support of earnings to sustain at those elevated levels, said Raamdeo Agrawal, Co-Founder & Joint MD, Motilal Oswal Financial Services.
Ashwani Gujral of ashwanigujral.com said if we have a big gap-up opening for Nifty tomorrow, it should be accompanied with some macro news.
The valuations in the market are on the higher side and if one has to make money from here on then corporate earnings need to recover and grow faster, said Sampath Reddy of Bajaj Allianz Life Insurance Company.
Amisha Vora Joint Managing Director Prabhudas Lilladher is upbeat on Jindal Steel and Power, Hindalco and Tata Steel.
There is a correction which is overdue for this market and the sooner it comes the healthier it would be for the market, said Manish Sonthalia, Head Equities-PMS, Motilal Oswal AMC.
Look at 23,500 on Bank Nifty, 9750 on Nifty and if both these zones hold then rally will resume, says Ashwani Gujral.