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Below is quote on Morning market 31 August 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"A distinguishing feature of this bull market which started in April 2020 is that it has been remarkably stable without any major correction. So, the newbie retail investors who entered the market since April 2020 (1.42 cr new Demat accounts opened in FY21) have been buying every dip, successfully. Now, with the Fed giving a commentary favourable to bulls, momentum is likely to take the Nifty to 17000. The flip side of this relentless bull run is the excessive valuation, which exposes the market to an unexpected sharp correction. This market has proved skeptics wrong, till now. Even while enjoying the party, investors should be prepared for a sharp correction. Partial profit booking is never a bad idea. IT stocks have turned a bit weak, perhaps due to dollar appreciation. But experience tells us that the performance of IT companies depends more on the deal wins than the exchange rate. So dips can be used to buy"

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