Sandeep Tandon bullish on domestic consumption and infra stocks despite market headwinds

«What we are looking at, when we said in July 2024, the complacency was high, we were at extreme inflection. Maybe September, October when India liquidity peaked out, that was the extreme inflection end,» says Sandeep Tandon, CIO, Quant MF.

So, let us come back to India since you said that the time has come to nibble in right now. Purely at an index level and since you do track technicals as well, we have hit the lowest RSI since March 2020 already, we are at an eight-month low. What is the screen telling you? Do you think we are at the end of the pain at an index level per se?
Sandeep Tandon: To be candid with you, I am not a great chartist or technical technician in that sense. I am a good observer and we are predominantly a behaviour house. So, we look at more from an inflection point rather than say looking at the breakout or breakdown because that may not give you a correct perspective or we may not have that ability to read up to that extent.

What we are looking at, when we said in July 2024, the complacency was high, we were at extreme inflection. Maybe September, October when India liquidity peaked out, that was the extreme inflection end.
Now, if I have to say with good amount of confidence, whether are we seeing something similar inflection points on the other side in most of the indices, the answer is big no.
But if I have to get into some stocks, then answer is big yes. Many stocks now have reached out and they are trading in the hated zone or neglected zone, that is the way behaviourally we define.