Little did he realise that it would be robust investment inflows, and not earnings , that would spur stocks to dizzying heights. High 200-DMA readings reflect investor optimism; extremely high readings are also seen as a warning the market may soon reverse to the downside. "A liquidity-driven stock market is not India's sweet problem alone. World over stock indices are riding high on excess liquidity. According to him, there is a pattern emerging, wherein stock markets have performed poorly in the second half.

Source: Economic Times July 10, 2017 18:02 UTC