BJP has swept UP like never before. Nobody not even Mr Modi himself would have expected such unbelievable results in BJP’s favour. Today’s results will boost BJP’S tally in the Rajya Sabha and everybody expect that central government will go all out for reforms.
Markets are likely to be positive after what happened today but please don’t get excited. Favourable macros or election results may have an impact on short term sentiments of investors. But in the long run, it’s corporate earnings that will dictate the market direction.
We always look for short term ‘easy’ momentum profits. We don’t like 15% compounded growth over 10-20 years. That’s so boring, right? WRONG, money is made by time in the market not timing the market. Stock market is not a place to make immediate fortune, it’s a place to look for opportunities to buy great businesses at fair prices and stay invested.
Hence when markets opens on Tuesday (Monday being holiday on a/c of Holi) please don’t get excited and don’t start chasing stocks. Take a chill pill and let it be another normal day.
Stay invested. Stay the course. Happy Investing !!