As the nation goes to polls, markets get into consolidation. Expected correction is not steep, which means the next upside is going to be strong. Along with Cement & PSB’s, Auto & Pharma have become leaders for the 2019 market rally.
A short correction after a good rally the market had in March. It is likely to exist for a couple of days before next rally. Sectors getting strong are Cement, PSB’s, etc. NBFC’s which went into a big drop in 2018 have started shining with leaders like Bajaj Finance and Bajaj Finseve giving new high’s. Market Indices have reached for a new high, which indicates that the bullishness will continue. The market has turned direction from bear to bull and this trend is likely to last for a longer period say 1-2 years.