Our fundamental weaknesses is our desire to 'get rich quick' In a 'normal' liquid market, there is a balance between buyers and sellers. When there is an imbalance of buyers and sellers, market prices rise or fall. If the strength of the buyers outweighs that of the sellers, the market will rise. It will keep rising until the buying pressure has been exhausted. If the sellers are the stronger group, the market will fall.

Manias occur when the vast majority of traders want to buy at once. Crashes occur when the vast majority of traders want to sell at once.

Credit and liquidity excesses from FII fuel speculative equity asset bubbles. In fact, all great speculative manias have been associated with rapid credit/liquidity  growth.  The greater the credit excesses the wilder the speculation. 

During this period you will find that dividend yield goes down, it is not a broad secular bull as you will find many good stocks are trading at lows like CIPLA, RANBAXY even INFOSYS etc.

It seems that trading nifty is the market and finding daily a new stock to spur the nifty to new highs.

It will be prudent to understand at this point the intrinsic value of stock or market you own. The way it is speeding look like vth wave is running. There is euphoria all over the world market rising without target.

One needs to use good senses.

This is time to look for the best companies, industries, and sectors fall out of favor. A fully-informed investor, with a pocket full of cash and a firm understanding of the situation, can calmly stride into a turbulent market and buy up shares of these underdogs at a fraction of their intrinsic value. How do you know which companies are permanent losers and which are undervalued gems? Use fundamental and history of the company. Management and excellent track record must guide you for investment. You should have capacity to be invested till there time is back.

There will be time to look for fresh buy signals in USA and Indian market before taking bet on any company. Fundamentally little seems that change.

I am surprised by so called great Mutual fund managers like big one UTI.