In my opinion, markets are trading in an overbought zone. Liquidity has caused the markets to go up significantly over the last 15 trading sessions. Valuations are at the higher end of the spectrum. Inflation coupled with increasing food prices and oil prices, will continue to pose a threat. Personally, i think its a time to book profits in scripts which are making you money, and book losses in small parts for loss making stocks.
Markets can remain rangebound for a while before you see a correction. Correction will take place factors such as inflation or oil will start to spook.
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