None of the teams is really consistent. Delhi and Hyderabad won their first 4 on the trot and then have lost 2 and 3 respectively. Chennai and Mumbai started badly and now Chennai is doing well. Punjab started badly and now doing well.
Bangalore which was doing so badly, has won 3 matches in a row and the last thrashing of a powerful Mumbai bowling attack was shocking.
I feel, on a given day, any team could win. That is the magic of T20, there are no clear favourites.
However, one thing is sure. Kolkata are definately out of the race. They have no fire and no direction. With Gayle gone, they might not win a single match now.