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

ASE Technology Holding   / Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6824 on SPX (up from 6480-6520) and $141.50 on ACWI-US (up from $134-135.70) continue to hold.</li>
<li>Signs of impending upside are evident with the ACWI-US and all the other MSCI global indexes (MSCI EAFE, ACWI ex-US, EM) breaking out (more on that below).</li>
<li>Our intermediate-term bullish outlook has been in place since our 5/14/25 Compass. Actionable themes include Technology and Industrials, focused in EM, Europe, and Japan.</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6824 on SPX (up from 6480-6520) and $141.50 on ACWI-US (up from $134-135.70) continue to hold.
Signs of impending upside are evident with the ACWI-US and all the other MSCI global indexes (MSCI EAFE, ACWI ex-US, EM) breaking out (more on that below).
Our intermediate-term bullish outlook has been in place since our 5/14/25 Compass. Actionable themes include Technology and Industrials, focused in EM, Europe, and Japan.


Breakouts Galore in All MSCI Global Indexes; Bullish Outlook Intact

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Indian Railways has officially commissioned the upgraded Kavach 4.0 on 738 route km, featuring advanced location accuracy and direct integration with modern electronic interlocking systems.</li>
<li>His rollout enables safe 160 kmph operations on high-density corridors while standardizing the technology required to cover India’s entire 68,000 km rail network by 2030.</li>
<li>The shift to Version 4.0 has consolidated the market, creating a massive revenue visibility of INR 50,000 crore for certified leaders like HBL Engineering and Kernex Microsystems.</li>
</ul>


Indian Railways has officially commissioned the upgraded Kavach 4.0 on 738 route km, featuring advanced location accuracy and direct integration with modern electronic interlocking systems.
His rollout enables safe 160 kmph operations on high-density corridors while standardizing the technology required to cover India’s entire 68,000 km rail network by 2030.
The shift to Version 4.0 has consolidated the market, creating a massive revenue visibility of INR 50,000 crore for certified leaders like HBL Engineering and Kernex Microsystems.


India’s Kavach 4.0: The ₹50,000 Crore Safety Boom Enters High-Gear

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.</li>
<li>We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.
We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long


5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/-21.4/-19.4%</li><li>Revenue and EBITDA were impacted by weaker execution which we believe will pick up from FY26 as T&amp;D OB is strong and once there is significant execution, operating leverage will kick in on better margin mix</li><li>SEL received new orders worth INR 32.9bn (+94% YoY) on the back of strong demand both in domestic as well as export market, which led to an order intake of INR 107.6bn, as of 9MFY25</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/-21.4/-19.4%Revenue and EBITDA were impacted by weaker execution which we believe will pick up from FY26 as T&amp;D OB is strong and once there is significant execution, operating leverage will kick in on better margin mixSEL received new orders worth INR 32.9bn (+94% YoY) on the back of strong demand both in domestic as well as export market, which led to an order intake of INR 107.6bn, as of 9MFY25Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

<ul>
<li>We remain near-term bullish since 4/22/25, we continue to believe SPX and ACWI-US likely bottomed at 4800-4820 and $101-$102 (May 13, 2025 report), and our intermediate-term outlook remains bullish also.</li>
<li>We'll maintain our bullish view as long as dynamics remain healthy and SPX and ACWI-US are above 5500 and $115, but we do not expect these levels to be tested.</li>
<li>We expect 5700-5785 on SPX and $120-$121 on ACWI-US to hold as support; considering the historic run up, don't be surprised to see another week or two of consolidation.</li>
</ul>


We remain near-term bullish since 4/22/25, we continue to believe SPX and ACWI-US likely bottomed at 4800-4820 and $101-$102 (May 13, 2025 report), and our intermediate-term outlook remains bullish also.
We'll maintain our bullish view as long as dynamics remain healthy and SPX and ACWI-US are above 5500 and $115, but we do not expect these levels to be tested.
We expect 5700-5785 on SPX and $120-$121 on ACWI-US to hold as support; considering the historic run up, don't be surprised to see another week or two of consolidation.


MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

Germany

Siemens Energy AG operates as a renewable energy company. The Company offers power generation and transmission, technical consultancy, and operation and maintenance services. Siemens Energy serves customers worldwide.

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Siemens Energy AG (ENR GR)

Breakouts Galore in All MSCI Global Indexes; Bullish Outlook Intact

Breakouts Galore in All MSCI Global Indexes (MSCI $ACWI $ACWX $EFA and $EEM) and tons of countries; Bullish Outlook Intact; Remain Overweight...

Vermilion Research

India’s Kavach 4.0: The ₹50,000 Crore Safety Boom Enters High-Gear

Indian Railways upgrades to Kavach 4.0 for safer, faster operations on high-density corridors, with potential for massive revenue growth.

Nimish Maheshwari

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

5+ Month Uptrend Support Holding on MSCI $ACWI; Bullish Outlook Intact; China Second Chance Breakout Likely on Shanghai Composite. Buying the test...

Vermilion Research

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/...

HDFC Securities

MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

MSCI $ACWI Coiling Under All-Time Highs; Monitoring Europe for Downgrade; Buying Korean Financials $WF $SHG $KB and Hana. Still Bullish, expecting...

Vermilion Research

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Breakouts Galore in All MSCI Global Indexes; Bullish Outlook Intact

Breakouts Galore in All MSCI Global Indexes (MSCI $ACWI $ACWX $EFA and $EEM) and tons of countries; Bullish Outlook Intact; Remain Overweight...

Vermilion Research

India’s Kavach 4.0: The ₹50,000 Crore Safety Boom Enters High-Gear

​Indian Railways upgrades to Kavach 4.0 for safer, faster operations on high-density corridors, with potential for massive revenue growth.

Nimish Maheshwari

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

5+ Month Uptrend Support Holding on MSCI $ACWI; Bullish Outlook Intact; China Second Chance Breakout Likely on Shanghai Composite. Buying the test...

Vermilion Research

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/...

HDFC Securities

MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

MSCI $ACWI Coiling Under All-Time Highs; Monitoring Europe for Downgrade; Buying Korean Financials $WF $SHG $KB and Hana. Still Bullish, expecting...

Vermilion Research

Indian Railways upgrades to Kavach 4.0 for safer, faster operations on high-density corridors, with potential for massive revenue growth.