Just my observation:
Previously whenever Nifty 50 PE made a new high around 28 (2 times) and 26 (once) it corrected in the following months by going below 15 or around 15 (for respective periods).
But this time around, since 2018 it has been moving side ways and above 24. India is
projected to grow at around 7.75 (currently) for next 3 years.
Please note: I am not being Bullish or Bearish here but only posting my observation and invite others view as well.