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Nifty Overextended On Technical And Valuation Front : India VIX is placed at a curious juncture

Nifty Overextended On Technical And Valuation Front : India VIX is placed at a curious juncture

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The first half of January 2021 looked very much like the final quarter of the last year. The key benchmark indices were pushed higher boosted by optimism on vaccine rollout, betterthan- expected start to Q3 earnings with IT bellwether TCS reporting its strongest third quarter growth in nine years and all the verticals showing good sequential growth. The long list of tailwinds does not end here as we are yet to talk about the most important tailwind i.e. FIIs’ flow in equities. FIIs, who have poured in over Rs 48,000 crore in equities in December 2020, are already net buyers with inflow of nearly Rs 13,000 crore so far in January.   

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