Market is due for correction, book profits now: Experts

Moneycontrol Bureau

The market optimism continues to grow. The Nifty kicked off the February series on a strong note, building on a positive start and closing with a flourish. It reclaimed the 5,200 mark with a 50-point rally. The Sensex gained 160 points to end at 17,233.98. The market has staged a stunning performance for the fourth consecutive week. The Nifty has surged 12.5% in four weeks. However, experts have started raising the red flags. They are expecting a correction now. They are advising investors to book profits and exercise caution ahead. Portfolio manager PN Vijay says, the market has become overbought and a correction is surely warranted even for the health of the market.