Market next week: It's time to be cautious now, say experts

Moneycontrol Bureau:

Looking at the market screen, investors have many reasons to rejoice. The level at which the Indian market is today, no one would have even dreamt of it at the beginning of 2012. 

Today, the Nifty touched a seven-month high surging past the 5,600 level. However, profit taking in the last hour of trade took some gains off the index.

The Nifty closed well above the 5,500 mark with a gain of 42 points. The Sensex too ended in the green and comfortably so at 18, 289, up 135.36 points or 0.75%.

The experts are getting wary now.  After the recent run up, they are expecting the market to take a breather and consolidate, if not correct.

Amisha Vora, joint managing director of Prabhudas Lilladher is cautious. According to him, the market might hold up and the expiry maybe positive, somewhere closer to 5,550 to 5,600.