Amid all the exuberance of Nifty trading less than 100 points since all-time high levels, Nilesh Shah, the Managing Director of Kotak AMC has a word of advice for the investors. The expert says that there could be consolidation in the near term, and advised investors not to get carried away and take on too much equity at this point in time. In a conversation with ET Now he said, “There could be a pause button. If you’re part of that minority Indians who are overweight equity, this is time to book profits. This is not the time to run leveraged positions.”
However, he believes that the long-term prospects remain attractive. He told the channel, “We still believe there is long-term growth potential in equity markets in India.” In view of the above he told the investors that this is not the market for short-term trade. “We hope and believe that investors who are investing are doing so on a longer-term basis,” said the expert.
