MARKET VIEW: CAUTION AHEAD
9650 is a strong resistance but if RBI opts for a rate cut, and there are positive monsoon and global developments, there may be a new bull phase taking Nifty further to above 10500. But valuations at these levels have become very steep and any negative development can cause a sharp correction so stay cautious. Key is to watch 9650 and RBI policy.
It would be prudent to book partial profits at these levels and switch from equity mutual funds to balanced funds. Investors should exit from small and mid caps and should switch to large caps.
Disclaimer:
Market View: CAUTION AHEAD /03/ June /2017.
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