New Delhi, April 23 -- When benchmark indices-the Nifty50 and the Sensex-have started to spike after being on a long downward spiral, retail investors are thinking hard about the fund categories they should invest in.

The Nifty 50 index recorded a 1,850-point rally in the last six straight sessions while the BSE Sensex touched an intraday high of 79,824, logging a 6,000-point rise in six successive sessions.

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So, where should investors invest now, and which categories promise high returns in the near future? These are some of the categories of mutual funds wherein wealth advisors recommend investing:

I. Balanced advantage fund: These are the funds wherein investment in equity or debt is m...