Devang Mehta, in an interview with ET Now, said that the Indian markets experienced a strong and rapid rally from mid-April to June, supported by positive sentiment. However, over the last three to four weeks, markets have entered a consolidation phase, accompanied by a mild correction. According to Devang, there are no significant positive triggers driving broad-based momentum right now. Instead, select pockets are reacting to earnings and management commentary, which he sees as a sign of resilience in an otherwise quiet market.