The Nifty touched 5600, rather easily today. As most readers know, this is a 31 month high - highest since Janaury 2008.
Should investors buy now? My view has been that investors should buy only on dips. Such dips occur regularly. If we are not in a dip now, then wait. Patience pays.
Traders should go with momentum, which is clearly up. I am giving below a monthly chart highlighting similar patterns in 2007 and 2010. Reader comments are welcome.