Here is Quick Gun Murugan of Dalal Street / aka Morgan Stanley's view for short term [few weeks] in Indian Market,
the short-term call on the equity market seems tricky. Over the coming weeks, expect Indian markets will be battling rising inflation, more rate hikes
and the uncertainty of the monsoon but has tailwinds from an appreciating currency and the likely strong earnings season. FII flows have surged and that
sometimes leads to tepid short-term returns. On the flip side, market participants seem to have bought significant protection (through puts) which usually
prevents the market from falling. Indeed, the market is just above its 200 DMA which does not signal excessive price momentum.
Global markets could hold the key to the near-term moves in the Indian equities and, to that extent, sovereign issues, growth debates, exit policy
concerns and currency action suggest a hesitant interim period for Indian stocks. Morgan continue to be bullish on Indian shares but the near-term call does appear more difficult than before. Buyers on dips with a 12-18 month view as growth dynamics remain favorable to equities, in our view
