Valuations stretched, see big correction if BJP loses in UP: Pro

Despite stretched valuations, the market continues to gain momentum, according to market analyst Anand Tandon. The market may see a big correction in the market if the BJP loses the Uttar Pradesh elections.The market closed flat today, with Sensex ending slightly lower at 28,999 points while Nifty closed at 8,946 points.Market will remain range bound in the near future, said Mitessh Thakkar of mitesshthakkar.com. Only the outcome of UP elections will determine where the market moves next, he added.Talking about the D-mart IPO, SP Tulsian of sptulsian.com said it is the best company in the retail space currently and warrants a buy. Watch video for more.