Not all human beings are created equal . Some may not have the knowledge of mutual fund while some may depends on strong referrals of friends , family member or business associates. But to be frank the best way to create wealth in generation is by investing in Equity. Direct exposure is risky so here comes the other route to go towards the same destination through mutual funds. Time also plays a crucial role so make your fund your friend for a longer period to fetch maximum output from it.
ICICI Prudential Value Discovery Fund: Daily Chart
ICICI Prudential Value discovery fund is an open ended diversified equity fund, which aims at stocks which are available at a discount to their intrinsic value through a process of ‘discovery’ this process is called as Fundamental research. This process involves identifying companies that are well managed, fundamentally strong and are available at bargained price.
Risk Profile: The risk is moderate in this fund as the investment is diversified among various assets. Average returns can be expected from this fund as it is outperforming at current levels. Investors looking forward for good returns with moderate risk should consider this fund for investments in staggered fashion or through SIP route.
Technical Perspective: Above daily chart of ICICI Prudential Value Discovery Fund shows that post the completion of wave 2 near 100 levels, prices are moving higher in form of wave 3. The internal structure of the same indicates that currently minor wave iii is in course which is the best leg in the entire impulsive rise because it holds extreme strength and fetches maximum gains in minimum time frame. Also the moving Average is providing good support so as long as it is intact one should continue to SIP to maximize the gains.
In a nutshell, corrective action in this fund looks to be more of time rather than price so investments in staggered fashion is advisable and SIP should turn out to be the best way as it will provide excellent cost averaging opportunities.
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