Stay cautious when stock markets are at all-time high: Gautam Shah

Goldilocks’ Gautam Shah weighs in with his expert insights on why retail investors should stay cautious while invested in all-time high markets.

Shah explains that the markets have had a phenomenal run. “It has been a series of highs and highs for many months. We have come to a point where markets have hit a speed breaker. So they need to take a breather. Our working target on the upside has been around 18,000. This is the technical number where a lot of technical studies coincide. In the last 5-7 days the Nifty has found some resistance there, which is good to see. Despite global volatility, India appears to be a better performer in the equity space. however the short-term charts are overbought and at the same pace, it needs to get into the consolation phase, maybe even corrective phase.”

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