By letting it go, it all gets done.

– Lao Tzu

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Global Markets

YTD Performance

US blowing its Trump(et).

A clear majority, Fed rate cut and US markets are sky rocketing.

Indian market trying to put in a bottom and we’re consolidating at the bottom.

Market Breadth

New Highs / New Lows

We’re still above the zero line and this is sign of broad market participation.

However, there is an underlying weakness as the market trying to bottom out.

Nifty 500

The Market

22350 holds and we see a first HL on 4/11/24 and we see first time that the trend is trying to change.

Its a matter of time we start moving to 50dma and then to ATHs

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3-Macros

$₹ / Gold / Oil

We look at the 3 Macros that affect Indian market viz., $₹ / Gold / Oil

USD/INR : We are now at a new ATH level as FII’s start punching out of India,

Gold : Still above the 50dma, Gold would top out once we drop below $2640

Oil : Holding $65 support

Sectors

Performance

We compare YTD-RS vs 3M-RS to check sector rotation in market.

YTD Basis : Pharma, ConsumerDurables, PSE

3M Basis : IT, Finance, ConsumerDurables

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Top Investing ideas for next week : None !!!

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