"The market signal is that Wednesday’s sharp correction was a one-day event and not a reversal of the uptrend. This confirms the success of the buy-on-dips strategy, which has played out consistently in the ongoing rally. The global cues continue to be favourable with the dollar index below 102 and the US 10-year bond yield hovering around 3.9%," said Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.