A quick note on the state of the market.
What has happened in the last 1 month or so.
Nifty breaks out above 17400 and has moved up to 18400.
Bank Nifty breaks out above 39500 and is at 42500. ( Do check our report in June 2022 )
US Inflation and Inflation around the world giving signs of Peaking out.
Dow Jones and most Global Indices up 12-17%. Reducing the extent of India outperformance.
Dollar Index from 113 to 106.
In this whole 1 month move the Smallcap Indices and Midcap Indices are at the same price for a month.
Earnings Season over.
Even in the top Nifty50, Nifty 100, Nifty 500. Most stocks have underperformed the Nifty.
VIX is now back to April ( recovery ) and pre Russia Ukraine crisis zones. Reduced Fear.
Selective Sectoral moves in Shipyard, Defense, Railys but more so PSU.
Basically some Index stocks up and everything else is flat.
