We are in a multi-year bull market: Sahil Kapoor

economictimes.indiatimes.com:

«I think one of the key themes is that since the last two-three years, since we bottomed out post-COVID, a lot of participants have tried to micro-time the market by looking at a few corrections and trying to second guess whether the market will give a big correction or not,» says Sahil Kapoor, DSP MF.We know it is a bull market, right but how to approach this bull market? That is the key. So tell us, how are you approaching this bull market? Is it showing signs of peaking out or not yet?I think one of the key themes is that since the last two-three years, since we bottomed out post-COVID, a lot of participants have tried to micro-time the market by looking at a few corrections and trying to second guess whether the market will give a big correction or not.

We have not really seen a very large major correction play through. We had a correction in 22.

And barring that, I think the last correction that we had when market went from 18600 to about 16800 or so, barring that correction, we have had a fairly less volatile market as compared to many other markets in the aftermath of a very large run. So one thing is very clear that we are in a multi-year bull market and we will have intermittent corrections, but I think the intensity of correction is going to be a guesswork that all of us will have to do time and again.

So the best course of action, according to us is to stick with this multi-year bull market. Of course, you can taper down your new investments that means when you put a new rupee up, you should look at where the market is right now and try to stagger that purchase if the market is looking a little overbought or looking slightly away from its longer-term average valuations.