Indices can push a little higher before a correction sets in. But best to stay cautious

As we begin 2018, there is a strong reason to feel nervous. Indian stocks kept surging higher in 2017, despite severe odds, buoyed by demand from domestic investors. There were just three slightly meaningful corrections last year, and none of them exceeded 5 per cent. If we expand the picture slightly, there hasn’t been a significant medium term correction since 2015, when the Sensex and the Nifty...