Today is the starting day of another month, this is the last month of the year. In last month Stock Market showed many ups and downs, the market remained at record, Market is ruling on high.But the big question Is this level supports earning growth? The index shares are still overvalued but there are more space in midcap for long term investment. Investment ratio's in market is still pessimistic as upside is limited at these levels for short to medium term also the weak global clues also added to the pessimism.The long term growth story is still intact and we can expect higher levels for the market in coming year but for short term we expect the market to come down and we expect down side up to 4800 level.Investor should be very alert at these level as a small trigger in global economy can cause a sell off in world market and if any sell off should be considered as an opportunity for investment.Fundamental investor who are investing in sunrise sectors for long term (3year or more) need not to look at market levels but for short term to medium term investor who are just investing on largecaps the current levels are not encouraging .Short trem investor watch our nifty levels and do according to level mentioned there.Not all but majority shares is now out of fundamental Justification.Market itself is now trading in Price/Earnings ratio of around 23 any thing above 25 we consider as overvalue so be very careful in your selection of stock and investment.
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