Going forward, in the near term, considering that the Nifty has rallied 9% in the last 2-months and 15.5% in the last 5-months, some amount of consolidation and / or profit-booking at the current levels cannot be ruled out. Moreover, with crude oil prices again firming up and weakness in the rupee continues, coupled with the fact that both MF and FII inflows into equities were tepid in August, the market taking a breather may be on the cards. However, notwithstanding short-term market pullbacks, we continue to strongly advocate a buy-on-dips' strategy with a stock-selective approach in the backdrop of an improving corporate earnings trajectory and also a strengthening economy, which have been important pillars of this rally.