“Puneet Sharma views the Indian markets as entering a phase of heightened volatility rather than a structural downturn, driven by global macro forces like crude prices above $100, a weakening rupee, and persistent foreign outflows. He expects volatility to remain elevated in the near term, with potential for sharp counter-trend rallies due to oversold conditions. The market is seen as two-sided, not directionally bearish, especially if the RBI delays easing due to inflation risks.”