Should you buy Share now as the market has fallen 1400 points- No not now
- Lot of experts in blue channels are suggesting to buy stocks right now as it has corrected good.
- Has it?, The answer is no. All those who entered in the last leg when the market was high got badly trapped.
- Then you can think i should consolidate to bring my cost down, the answer is no,not yet.
- This is a start of correction after a 1 year long bull run starting from election.
- This will go on for some time at least for another 2 to 3 months.
- We should wait patiently and watch the market,
- Current Nifty PE is 22.4, so its in the oversold range and you need to watch for the earning to see how it goes.
- From the trend of results flowing inits going to be bad.
- So wait for some more correction till Nifty comes down and you see earning start imporving, which i believe it will take at least couple of quarters,
- If you are a safe investor then wait till NIFTY PE comes around 17 or 18. Then you can start accumulating.
- If Nifty PE is around 15 then you can go ahead and buy confidently as its in oversold range and definitely bounce back,
- We have recommended Colgate Palmove on 22nd March 2013. The Trgt was achived in April.
- See here for Recommendation post -->Click here
- Now that the Stock has corrected, we recommended to reinvest in this stock with Trgt of Rs 1540.
