The market is at extremely overbought levels. Rollover data in frontline stocks suggests majority of the long positions have been carried forward to the next series, Jimeet Modi CEO, Samco Securities & StockNote said. Such extremely high optimism may lead to short-term corrections. LIC, whose public offer is expected to be the largest ever in the history of the domestic capital market, may take away precious liquidity from the market by Diwali 2020. A lot of other IPOs, too, are lined up for the next 2-3 months, a trend that historically signals capping of upside potential for the broader market.