Fundamental View

"There are pockets of froth we are avoiding, particularly, where valuations have surpassed fundamentals," said Neelesh Surana, chief investment officer - equity at the firm

As of Jan 2024, the price-to-book valuation for the Nifty50 index, according to HDFC Securities Institutional Research, was 114 per cent of the average historical valuation, indicating expensiveness.

A lot of investors tend to look at fundamentals as a key to long-term investing and technicals as a way to quick-fix trading.