Trend continues to be positive

The VIX has stayed very low, which implies trader confidence

The market hit new highs in June, with the Nifty moving above 9,700. But, there was a mini-correction that pulled the index down till support at 9,575-9,600. There is stress ahead of the US Fed's policy meeting.  

As of now, traders are assuming that the Reserve Bank of India (RBI) will cut policy rates soon, given a drop in the inflation rate in May. Consensus that the Fed may hike the US policy rate band has been discounted.

Domestic institutions remain net buyers in June. So, do foreign portfolio investors. Retail is also positive. However, selling this week tested