Synopsis
What is different about the current volatility on the street – especially in the last 10 sessions – is that it has been limited to a part of the large-cap space. That too in select stocks with high FPI exposure. The probability of further selective correction cannot be ruled out given that the Q2 earning season has been kicked off by TCS. Stocks of companies that report better results and show improvements in their business operating matrix will weather the storm better. The selected stocks on our list depict a strong upward trajectory in their overall average score which is based on five key pillars – earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
While FII selling has pushed the Nifty into a volatile phase, a look at the bigger picture suggests something more – something bullish. Consider the total amount of FII selling in the last 10 trading sessions and the damage caused to the Nifty and the broader market breadth. It is much less than what this kind of selling would have caused just a year or two back. The ease with which this selling has been absorbed is clearly indicative of the
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