One of the most awaited day of this year was yesterday, the nation got a new Prime Minister – Narendra Modi who won clear cut yesterday. The exit polls had predicted a similar kind of victory for the NDA.
For the first time in 30 years a party has won clear majority on its own.
In last couple of months the markets rose from 5800 levels to 7000 levels on NIFTY.
Yesterday NIFTY hit an intraday high of 7563 while Sensex touched an intraday high of 25375, but ended low because of profit booking.
How should you invest in stocks now?
The markets are at the highest level and its way to risky to invest fresh. One may consider booking partial profits if the market rises another 3-4% up.
We expect the market to be range bounded and be in the range of 6700 to 7350 on NIFTY.
Markets will get clear direction once the new PM assumes office and works on his policies.
What’s your take?