⦾ New Year, New High for Nifty50

⦾ 11 is a charm as CNX500 breaks-out showing broad market support

⦾ US SPX500 at 50dma support

⦾ Indian equities look ready now for some bets in leading sectors

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Global Markets

YTD Performance

SPX50 : at 50dma support

US100 : around the 50dma

Nifty50 : at ATH

3-Macros

$₹ / Gold / Oil

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

USD/₹ : consolidating, above 10wma

Gold : consolidating, above 10wma

Oil : in downtrend

The Market

CNX500

CNX500 : Weekly Chart

Broad market has broken out of a 10 week consolidation, approaching ATH

Tracking Leadership

Indices, Sectors, Industries

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

Leading sectors : Bank, Auto, Telecom

Leading industries : Auto (passenger), Electrodes, Auto (motorcycles)

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Investment ideas for next week

As the broad market breaks out into Stage 2A, we can look for few ideas with low risk to pilot test if this new bull run is going to hold

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