Indeed it was a historic day in Indian Stock Markets. Within opening of few minutes, the BSE Sensex and Nifty hit the upper circuit of 15%, trading being halted for 2 hrs. Later another 5%, halted the trade for the rest of the day. Everyone is bullish, once again.
There are a lot of predictions out there on what the markets will do tomorrow, and the day after… but what should really matter to you and ask yourselves that , is this possibly the start of a long-term rally in stock prices ?
But think again and hold back your enthusiasm just yet.. there is every chance that egged on, once again, by over-enthusiastic TV anchors and unscrupulous brokers, you will go out and invest in stocks which over the long-term will disappoint.
You don’t want to do that.
This is the time to lay the foundations for a wealthy future. Not the time to speculate in momentum stocks. So be very careful, as you always should be, in what you invest in.