Simple logic of making money in equity is "sell on high and buy at low". But in general, retail flow in mutual fund picks up when market is high. As we know equity as asset class tends to underperform and outperform over its valuations. It is a best time to sell or book profit when equity valuations are stretched.

On basis of extensive research of 15 years' market trends and data, we have created a matrix of valuations which provides good sense of equity market returns. On higher valuation, returns are going low to negative and vice a versa..