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Gautam Shah of Goldilocks Premium Research feels that while the phase of making easy money in markets has gone, one should stay invested in quality
As markets continue to consolidate in a range after touch the record levels of 15,900 on the Nifty and 53,000 on the Sensex, experts are looking at this as a healthy sign and are not worried about a sharp correction.
Excuses for the markets to correct have come and gone, but markets have remained steady respecting the crucial supports.
“I have always believed in markets these short sharp corrections do more good than bad,” said Gautam Shah, Founder, Goldilocks Premium Research, told Money9.
On the levels for the Nifty, he said 15,620 is where the support for the Nifty is placed and beyond that 15,450, but he believes this is a buying opportunity for sure as I believe that this market has much greater upside ahead, one should stay invested, one should use the dips to buy but the phase of making easy money has gone and one needs to be cautious about which stocks you should buy.
Investment strategy
On investment in equities at record high levels, he said that, “Every Indian household now believes that you have to invest in markets to beat inflation. This good liquidity is taking markets higher.”
As an advise for the first time investors, he says that one must definitely stick to quality. Look for relative strength. The stock or sector you want to invest in, let it outperform Nifty. There is huge concern about the way investors are thinking saying when I can make 100% why should I make 20%. That’s a serious mistake. Stick to the top 100 that’s the best way to approach. That’s the mantra I’d like to share with new investors.
Advice for millennials
For millennials getting into trading in markets without having complete knowledge, he issued a note of caution, saying that it is extremely risky.
“In a bull market, even the basic technical and fundamental analysis will work wonders, and one tends to think that one has found the holy grail, it doesn’t work that way. If one is using technical analysis the most simple, basic one is the Dow theory, which is when a stock is making higher tops and higher bottoms, you stay invested in that.”
He also advised youngsters to stay away from social media since there is a lot of noise.