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In short term, markets may enter a phase of consolidation but in the longer run if the Indian economy continues to show resilience and corporate profitability stays strong, the market will definitely see newer highs, says Raghvendra Nath.

In the near term, given the RSI at overbought zone levels and PCR (Put-Call ratio) reached 1.5 mark, the consolidation or some pull back cant be ruled out, experts said.

Going forward, it is advisable to have a selective approach and look out for thematic movers amidst the ongoing sectoral rotation.

Despite the global challenges, the Indian market offers stability to investors due to its large and diversified economy, robust domestic demand and ongoing economic reforms, says Nilesh Shah of Kotak Mutual Fund.

New allocation by FIIs for emerging markets and India seems a certainty in the calendar year 2024, says Amit Jain.

With over 65 IPO filings already with SEBI, and many approved, the upcoming year promises to be active for the Indian IPO market, says Sonam Srivastava.

Nykaa formed strong bullish candlestick pattern on the daily timeframe with above average volumes. Now, the stock traded above all key moving averages with 20-day EMA acting as an immediate support for the stock.

Looking forward, the immediate resistance for Nifty is identified at the 21,500 levels, representing the 78.6 percent Fibonacci extension level.

The overall market sentiment remains bullish, and considering the current levels, traders are advised to initiate fresh long positions.

Chalet Hotels sustained uptrend with robust volumes for three days in a row. It has seen a breakout of falling resistance trendline adjoining multiple touchpoints and traded above all key moving averages, which is a positive sign.