The Nifty had the best month of 2017 in July; it was up over 5%! The move to 10,000 has been swift. And takes the 2017 return to 23%.
We won’t know till it’s too late. But overvaluation begets more overvaluation and as long as people are skeptical (including us) the market will go up.
All we can say is: markets are going to be fun. Melt-ups, melt-downs and volatility – are all back now, just not yet on the downside.