Market continues to slide after budget. Exit 30% of your Portfolio.
We have being tracking and following few positive hand picked stocks while the broader market is in downtrend to neutral.
Budget is has not helped to gain investors confidence.
Liquidate 30% of your portfolio and hold cash or invest in Gold ETF or Debt funds temporarily.
Don’t average stocks in sliding market. We will find a better price to enter some hand picked stocks.
We also wanted the NIFTY to close last week above 11950 to get a good momentum on the upside technically.
Taxing Super rich, increase in tax for buyback to ensure Dividends are paid after taxes, reducing Promoter holding to less than 75% in a developing country, too futuristic with tax excemption on Electric vehicles, a disinvestment target of 1,05,000 Crores and increase in import duty on Gold is strongly weighing the market on the downside.
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