Value investing has proven to be a successful investment strategy. One of A key reason behind this is that value investing as a method helps investors deal with high levels of volatility as it captures the intrinsic value of a stock with respect to its historical valuations. Value investing gives more importance to long-term fundamentals of a company and provides an understanding of whether a stock is undervalued. Therefore, it is important to look at schemes that follow value investing across market capitalisations and have done well in the long term. One such scheme is ICICI Prudential Value Discovery Fund.
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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