New Delhi, Dec. 9 -- When the market context changes and the focus shifts from old to new themes, equity investing needs to constantly anticipate, prepare and respond to the evolving scenario. There is a need to approach the dynamic market shifts with a sense of preparedness and correct positioning. Portfolio strategy does exactly this by helping to constantly position a portfolio in line with the emerging market context. It ensures that stocks that are overvalued, over-owned and carrying significant downside are reduced or even given an exit when needed. It ensures allocation to sectors are made diligently and kept in check when the sectoral exposure rises due to market gains. For instance, when stocks in a particular sector or theme see...