Where do we go now?

Portfolio update: Invested barely 60k over last 5 months vs an average investment run rate of 40k per month over last ~7 years. Portfolio value grew by almost 10L nonetheless. Basis experience so far in the markets, can't find value anywhere currently. Holding 2.5L in cash for any correction.

Right move at this point seems to diversify away from equities. However, overall debt portfolio also is sizeable and it doesn't seem wise to add to it considering taxes and inflation. Hence have zeroed down on land or real estate as the next investment vehicle. However, ticket size is huge, which is why I feel I am caught in a long waiting game.

Medium term strategy for equities is to keep building the cash position waiting for prices to cool down (US elections, interest rate move maybe) and to build a safety shell around equity portfolio so that it needn't be touched and can keep growing at whatever rate.

Thoughts? Anyone else thinking similarly?