I am Taking Profits - Sainik

The ferocity of the rally in the last few days, from a low of 2200 levels to the current levels of 3000-plus, surprised even an ardent follower of the market like me. I am unable to remember such ferocious pullbacks in the past many many years.

This also makes me wonder: What's happening?

Being a prudent speculator, my gut instinct tells me that something seems to be wrong somewhere. As a long-term investor, I was hoping that if one buys around 2400 levels, one would get a return of around 25 percent in a year's time. This has happened in just 5 trading sessions!

Under such circumstances, there is no harm in taking profits after getting such a humongous pullback. I am taking profits entirely and waiting for the air to clear.

Better to be safe than sorry.