⦾ Nearing 1-Aug deadline for Trump and his Tariffs, India already feeling the pressure
⦾ Fed’s Powell is up this week with his annoucements
⦾ Earnings take indian markets lower
⦾ Stay put on Bitcoin to cross ATHs
Global Markets
YTD Performance
World markets are stable. SPX500 continues its march and now at new ATHs.
CNX500 is now a laggard and currently in a pullback.
3-Macros
$₹ / Gold / Oil
We look at the 3 Macros that affect Indian market viz., $₹ / Gold / Oil
USD/₹ : now above 86 and showing strength
Gold : sideways
Oil : may correct further
The Market
CNX500
The 50/50 long vs short is now in favour of the bears and so all positions need extreme caution. We closed below the 50dma / 10wma which puts the general market into a Stage 3 consolidation zone.
We now wait for events to put us back into an uptrend
We’re in a 10,000 point massive Flag & Pole.
Market Breadth
New Highs / New Lows
Broader market continues to live in the positive zone.
Sectoral Analysis
Performance and RS
We compare YTD-RS vs 3M-RS to check sector rotation in market
YTD Basis : Defence, Finserexbnk, Finance
3M Basis : Defence, Metal, Realty
Active Investment ideas for next week
As market is currently in a downtrend we wait for a trend change or for CNX500 to take support at 10wma and turn from here.
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