⦾ S&P500 drops 2%

⦾ Is everyone thinking AI is a bubble ?

⦾ Indian IPOs raised 31,000cr in Nov’25

⦾ Not starting any new positions next week

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Global Markets

YTD Performance

Nifty in an uptrend but broad market not supportive. Handful of stocks taking the index higher.

Not a market where I will put my money !

3-Macros

$₹ / Gold / Oil

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

USD/₹ : breaks out into new ATH (crack in the wall?)

Gold : At 50dma support

Oil : Still below the 50dma

The Market

CNX500

CNX500 : Weekly Chart

Fed shakes up all economies not just US.

We’re still in Stage 2A and still in the handle waiting for a decisive breakout…but…there’s no impetus for this to happen.

We’re in a 10,000 point massive Flag & Pole.

Tracking Leadership

Indices, Sectors, Industries

We track leading indices on YTD basis and Leading Themes on Sector and Industry Level

YTD Leaders : Psubanks, Defence, Metal

Leading sectors : Telecom, Aerospace & Defence, Energy

Leading industries : Aquaculture, Steel, Auto (2whs)

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Investment ideas for next week

There’s an increased volatility in the US markets and if SPX500 breaks below friday’s close, it would have entered Stage 3.

Money is not flowing into commodities and crypto either as they were thrashed as well.

I’m sitting out for now, staying put is a better way to pass this volatile phase.

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Your job as an investor is to find the next apple and handle it well.