Sensex Overvalued

Sensex 17472.56 +11.98

This is probably not the best of the times! With Sensex ruling at over 21 PE, this is certainly not the best time to invest. While one cannot rule out a 10-15% rise based on historical PE highs, BSE 100 stocks would certainly be under pressure.

Having said this, this is possibly one of the longest recessions. I've said earlier in my posts before that Sensex still has another leg of fall before the bull run begins. So, we should see the start of the last leg anytime soon.

Invest selectively in stocks at this point.