Bulls seem to be in complete control as the market continued to climb higher this week maintaining their four weeks of winning trend. Indian stock market also added another feather to its cap by surpassing France, for the first time, to surge to the status of sixth largest stock market in the world by market capitalisation. In the process, the Sensex has achieved the milestone of 59,000. Gurmeet Chadha, co-founder, Complete Circle Consultants, spoke to Money9 on how should new investors approach markets at record levels.
“Some caution is obviously warranted in pockets some consolidation, some correction in a few pockets is always healthy. There are obviously a few pockets of exuberance and one needs to tread with caution. Markets are a bit expensive and we are in a situation where after making good returns, one needs to take a fresh guard”, he said.
As an advise for first time investors, he believes one must be selective as this is not the time to chase momentum. He also believes one must look for good earnings growth and focus on re-balancing asset allocation.
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