Analysts see more legs to the market rally amid intermittent corrections

Analysts think it will not be a runaway rally from here on as the market valuations seem expensive

Despite the sharp up move in frontline indices – the S&P BSE Sensex and the Nifty50 – in the last few weeks, analysts believe there is more headroom available for them to move up, and it is just a matter of time before the benchmarks hit a fresh all-time high.
 

The rally on Friday, that saw both these frontline indexes surge over 1.7 per cent in intraday deals, was triggered by the lower-than-expected US consumer price inflation (CPI) print of 7.7 per cent for October, which rekindled hope that the US Federal Reserve (US Fed) may tone down its ultra-hawkish