Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

S&P BSE SENSEX Index / Technical Analysis

S&P BSE SENSEX Index (SENSEX INDEX EQUITY)

<ul>
<li>We continue to see global equities as being in pullback mode, with the MSCI ACWI index (ACWI-US) already testing important support in the $86-87 range, highlighted last week.</li>
<li>A bounce here would be ideal for the bullish case, but we could easily see a test of the YTD lows near $81.50 if $86 fails to hold.</li>
<li>Japan's TOPIX/Nikkei225/TOPIX Small remain bullish, as does India's SENSEX -- add exposure. Seeing some failed breakouts in Europe, notably the EURO STOXX 50 and STOXX Europe 600; a concerning development.</li>
</ul>


We continue to see global equities as being in pullback mode, with the MSCI ACWI index (ACWI-US) already testing important support in the $86-87 range, highlighted last week.
A bounce here would be ideal for the bullish case, but we could easily see a test of the YTD lows near $81.50 if $86 fails to hold.
Japan's TOPIX/Nikkei225/TOPIX Small remain bullish, as does India's SENSEX -- add exposure. Seeing some failed breakouts in Europe, notably the EURO STOXX 50 and STOXX Europe 600; a concerning development.


Pullback Continues; Japan & India Remain Attractive

Ishares Global Consumer Disc / Technical Analysis

<ul>
<li>We are seeing some positive signals that suggest the lows for this bear market may have already been established, or at the very least, that downside is limited from here.</li>
<li>Still, YTD downtrends remain intact on the global MSCI equity indexes, and we need to see reversals of their downtrends in order to get more constructive at the index level.</li>
<li>Cyclical Growth Sectors continue to gain momentum and we are upgrading the MSCI ACWI Technology, Consumer Discretionary, and Communication Services Sectors from underweight to market weight. Add exposure.</li>
</ul>


We are seeing some positive signals that suggest the lows for this bear market may have already been established, or at the very least, that downside is limited from here.
Still, YTD downtrends remain intact on the global MSCI equity indexes, and we need to see reversals of their downtrends in order to get more constructive at the index level.
Cyclical Growth Sectors continue to gain momentum and we are upgrading the MSCI ACWI Technology, Consumer Discretionary, and Communication Services Sectors from underweight to market weight. Add exposure.


Positive Signals; Growth Sectors Gaining Momentum; Buy Ideas Within Global Growth Sectors

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Thematic (Sector/Industry)

<ul>
<li>This insight provides select Industry-wise highlights from the 59 checks, across 5 sectors and 14 industries that we did in Q4 (Jan 2022 to March 2022).</li>
<li>The objective of the checks is to understand the underlying business narrative not to forecast the coming quarter and hence the limited sample sizes. </li>
<li>These checks are used as a tool to identify areas of discrepancy between management commentary and ground reality that could be the subject of future deeper dives. </li>
</ul>


This insight provides select Industry-wise highlights from the 59 checks, across 5 sectors and 14 industries that we did in Q4 (Jan 2022 to March 2022).
The objective of the checks is to understand the underlying business narrative not to forecast the coming quarter and hence the limited sample sizes. 
These checks are used as a tool to identify areas of discrepancy between management commentary and ground reality that could be the subject of future deeper dives. 


India Channel Insight | Q4 Report Card | 59 Checks Across 5 Sectors

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>Electric 2-wheeler capacity in India is set to multiply manifold as growing demand is changing the face of the country's nascent EV sector.</li>
<li>Attractive Government incentives and subsidies, supportive policy framework have helped sector growth. However, the lack of key component supply systems locally and charging infrastructure are bottlenecks.</li>
<li>New entrants dominate the segment while incumbent 2-wheeler players are yet to create a meaningful presence. In the listed space,  Greaves Cotton (GRV IN) offers exposure via Ampere.</li>
</ul>


Electric 2-wheeler capacity in India is set to multiply manifold as growing demand is changing the face of the country's nascent EV sector.
Attractive Government incentives and subsidies, supportive policy framework have helped sector growth. However, the lack of key component supply systems locally and charging infrastructure are bottlenecks.
New entrants dominate the segment while incumbent 2-wheeler players are yet to create a meaningful presence. In the listed space,  Greaves Cotton (GRV IN) offers exposure via Ampere.


India EV Sector: Electric 2-Wheelers Are the Early Riders - Know the What, Why & Who

<ul>
<li>The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing Legislative elections. </li>
<li>The objective is to know the on-ground narrative about business and elections and is not aimed at forecasting the outcome of the event. </li>
<li>Business sentiment is not very encouraging, however, most of them seem to be hinting at the ruling party BJP remaining in power. </li>
</ul>


The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing Legislative elections. 
The objective is to know the on-ground narrative about business and elections and is not aimed at forecasting the outcome of the event. 
Business sentiment is not very encouraging, however, most of them seem to be hinting at the ruling party BJP remaining in power. 


India Channel Insight # 27 | Postcard from Uttar Pradesh (UP) | BJP Likely to Remain in Power

India

Hero MotoCorp Ltd. designs, manufactures and distributes motorcycles. The Company's products also include motorcycle parts and accessories.

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Hero Motocorp (HMCL IN)

Pullback Continues; Japan & India Remain Attractive

Stick with Japan & India. $ACWI bounce at $86 would be ideal for the bullish case (i.e., establishing a higher low), but we could easily see a test...

Vermilion Research

Positive Signals; Growth Sectors Gaining Momentum; Buy Ideas Within Global Growth Sectors

Starting to see positive signals that suggest downside is limited from here. Still, we need to see reversals of YTD downtrends on $ACWI $ACWX $EFA...

Vermilion Research

India Channel Insight | Q4 Report Card | 59 Checks Across 5 Sectors

This insight provides select Industry-wise highlights from the 59 checks, across 5 sectors and 14 industries that we did in Q4 (Jan 2022 to March...

Pranav Bhavsar

India EV Sector: Electric 2-Wheelers Are the Early Riders - Know the What, Why & Who

A quick primer on India's rapidly growing electric two wheeler (scooters) segment including factors driving accelerated growth and the key players...

Devi Subhakesan

India Channel Insight # 27 | Postcard from Uttar Pradesh (UP) | BJP Likely to Remain in Power

The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing...

Pranav Bhavsar

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