New Delhi, July 7 -- The last few days have seen positive sentiment returning to Dalal Street to some extent. There are tentative hints that the market now feels confident enough about moving on from the major blow to sentiment dealt by the war in West Asia and the disruption of the oil trade.

As the US and Iran agreed to continue talks and have even made progress on some major issues, financial markets have heaved a sigh of relief.

But this does not mean that a new bull market has started. Investors should not forget the painful lessons learnt during the last two years of market volatility.

When the stock market peaked back in September 2024, no one could have predicted the losses that investors would suffer in 2025 and 2026.

But tha...