I do not see Index is Overvaluede.

• When we look at to the 2 year data, it show market is undervalued because it has only given 5% return over past 2 years.
  

• But, despite other major index like Nasdaq has not given any return due to the concern of interest rate.
  If we see then it looks like Nifty is overvalued as other has not given any returns but nifty has.
  

• Personally, I see Nifty is fairly valued, despite high interest rate it has given some return but still if we look at it by time frame it is undervalued and when the interest rates will be cut then it will definitely rally.
  

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