The current distinct trend in the market is the sectoral churn happening somewhat strongly. Huge money is flowing into fairly valued largecaps in banking and profit booking is happening in sectors like capital goods, telecom, metals and FMCG. This churn is likely to continue in the near-term since it is a healthy trend. The overvalued broader market space also is taking a breather.The money flowing into the market continues unabated. The trend of FII selling also appears to be over since they have turned big buyers yesterday posting positive buy numbers for June. With both FIIs and DIIs turning buyers, the market is likely to remain resilient. But high valuations can trigger profit booking and selling anytime.Largecap banks continue to be safe bets and there is contra value buying opportunity in IT stocks which are facing