How to become rich: Time to make money now, great opportunity rises

Investors are looking for big opportunities to make a big profit and these have been rare recently. However, things have changed and investors are again in a position to eye big returns on the money they invest. The stock market has once again skyrocketed and Sensex even crossed 40,400 on Monday morning. For this ongoing boom in the market, many investors are preparing new strategies. So, what will be the correct strategy in this scenario? What you should do as an investor? What precautions should be taken for a long term investment? Also, is it the right time to enter into markets for new investors? Certified Financial Planner, Harshvardhan Rungta, Rungta Securities has shared some of his advice with Zee Business, which can work to create wealth for investors.

Is the right time to start sub-investment?

- Every time is the right time to start investing
- Do not deviate from discipline in investment, remember the goal
- Maintain investment for long term
- Keep investing through SIP, don't forget your financial goals

Where to invest?

- Always create a diversified portfolio
- Keep 50% large-cap fund in the portfolio
- Allot atleast 30% stake to Multi-Cap
- Place 20% Mid Cap funds in your portfolio

Harshvardhan's favorite large-cap fund

- Axis Blue Chip Fund
- ICICI Pru Blue Chip Fund
- IDFC Nifty Fund

Harshvardhan's favorite mid-cap fund

- L&T Midcap Fund
- Franklin India Prima Fund

Harshvardhan's favorite small-cap fund

- SBI Small Cap Fund
- HDFC Small Cap Fund

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Harshvardhan's favorite multi-cap fund

- Kotak Standard Multi Cap Fund
- SBI Magnum Multi Cap Fund

When to book profits

- When it is not easy to understand the movement of the market
- Difficult to predict market fluctuations
- Sensex has reached 40,000, ideal for redeeming investments
- These new records can be considered as a beginning of the new rally
- Never time the market
- Redeeming now indicates timing the market in the present situation

What should an old investor do

- Old investors should stick to their goals
- Continue the investment as per your goals
- Keep in mind the allocation of assets on the basis of duration
- Keep a goal of accumulation of money after 10-20 years
- Do not increase equity allocation just after seeing the market boom
- Choose an investment instrument according to your goals