Losers give excuses, Champions do whatever it takes !

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Global Markets

YTD Performance

With US in correction, Nikkei and European markets are having a ball !

Market Breadth

New Highs / New Lows

With the New Year hangover..over, we’re right now at a net -173 and usually the downfall has been ending at mid -190s

Its a tough market to make any money, best to sit on the fence.

Nifty 500

The Market

The last we saw CNX500 close below 40wma was in the week of 20/2/23. What’s happening now is a repeat of Feb-23 and so its time to sit 100% with cash and not invested.

Time for short? Only if we get a follow through to last week’s candle on the down-side with the break of the key support level.

For now we’re oversold for a bounce…let’s see if that sustains to decide the next move.

Note the Steps 1..2..3.. which will be repeated once a bottom is made…whenever that is.

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3-Macros

$₹ / Gold / Oil

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

USD/INR : Massive USD going out of country

Gold : showing trend change

Oil : breakout

Sectors

Performance

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

YTD Basis : IT, Fmcg, Oil&Gas

3M Basis : IT, Finance, ConsumerDurables

Investing ideas for next week

It’s time to protect capital, no long or short for now.

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