Dysfunctional systems will fall under their own weight. Let them.

~ Bashar

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Global Markets

YTD Performance

The strength of the Dollar (DXY) is shaking economies around the world as we see in the Global Perf chart.

An interesting thing to notice is that this index is losing momentum as RSI goes below 60. Maybe a slow-down or a pullback next week in preparation for the Santa-Claus rally in the Dec’s last week ?

Market Breadth

New Highs / New Lows

Broader market looks weak again underneath the strength shown by the indices on friday with massive volatility.

Nifty 500

The Market

The 50dma doesn’t break that easily…without a major event the market may be anticipating in future.

It is also an Institutional buy zone which normally gets bought into.

23000 is being protected and this is now the boundary line.

We want the 50dma now turning up with the price to see further progress and if Santa plans to visit India 🙂

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3-Macros

$₹ / Gold / Oil

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

USD/INR : still no sign of cooling off !?!

Gold : probably the rally is over as it lives below the 50dma

Oil : holding $65…sideways

Sectors

Performance

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

YTD Basis : Realty, ConsumerDurables, Pharma

3M Basis : IT, PSUBanks, Finance

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Top Investing ideas for next week

Ultracemco

Daily chart

Naukri

Daily chart

Infy

Daily chart

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