Real Bull Phase has just started and there is a feeling that markets are fully priced. India is entering Bull Phase just now and real upside is started. Donot miss this Great opportunity of Buying at Current level as you may never get it back for rest of life. Sharp corrections which happened in 2008 actually happened after 1991 and at much higher level. Next Big correction may happen in by 2030 and at much higher level. Nobody else is effected except you if you exit now or miss buying opportunity.
98% of Nifty stocks are at less than 10% of replacement value indicating that if you have to start same company today with same size it may take 10 times more money than the market cap today!
Whenever the market runs ahead of valuations using methods based on earnings or book values or other ratios, replacement value method is cited to drive the prices up. This is not a universally accepted method of stock valuation. In any case, there are many Indian stocks which are far undervalued (think outside the heavyweights). They did not command better valuation because of recession fears. If the worst is behind, these cos will start getting fundamentally better. So market as a whole is not over-valued now.
| NIFTY 
