Atul Suri, CEO of Marathon Trends PMS, believes the Nifty could touch 13,500 by the end of 2019. "Headlines may be negative but market is saying something else," he said.

Suri said that currently, liquidity is driving the market but it will reward growth soon. He added that "we are in for another good year" as we are "riding on FII and SIP flows".

According to Suri, 2020 is going to be dominated by the global bull market. "However, I feel that this could be a big catchup trade and we could see a wall of money coming in India."

Samir Arora of Helios Capital, however, believes the momentum will sustain but the rally needs to broaden.

Talking about stocks, he said, “Now we are analysing two things on stocks. One is the stock and other is what has brought it down. Sometimes... what has brought it down is so irrelevant that we can expect that at least it will retrace 50-60 percent of that fall because the fall is so disproportionate to the news.”