Markets ought to be going down but continue to rise. Dinshaw Irani explains why

Dinshaw Irani, CEO of Helios Mutual Fund, emphasized their cautious strategy, avoiding overpriced midcaps and smallcaps while favoring largecaps due to moderate valuations. Despite a market rally not supported by earnings, domestic flows have sustained the market. Irani discussed sector performance, potential future rate cuts, and concerns about speculative F&O trading.