With Ms Yellen, Chairperson FED keeping the rates untouched, markets have heaved a big sigh of relief. It is also very reassuring when one learns that in the next one year, there may not be any such move. Though, the ground realities in the next one year shall provide the guidelines.
Now, when we should feel relieved from fed issue, it does not mean that we should close our eyes n ears closed. As I always say, market is for the those who keep a close watch on the unwinding situation. What I want to say here is that soon after the Q2 reqults and post festival seasons like Xmas FIIs generally pack - off and go for holidays. Generally, market goes in for correction during this period. As such, wherever one feels that pre set gains have been achieved, partial profit booking is advisable.
Yes, of course, those who are prepared to go long and believe in the long term positive story of economy of India, can take their call and decide accordingly.
Before I pen down, one can say that market is eying 8900 Nifty level, sooner than later.
Wishing you all the best.