Should investors brace for a near-term pullback then? “The precedent deserves respect, not surrender,” points out Harshal Dasani, business head at INVasset PMS. “Prolonged breadth has often preceded soft three-month Sensex returns because broad participation eventually stretches valuations and invites profit-booking,” he explains. “But context decides whether the precedent applies: this breadth run emerged from a correction and record foreign selling, not from euphoria, and it is backed by a structurally different flow regime, with SIPs above ₹31,000 crore monthly and FII selling collapsing 95% since March,” he added.