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

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new purchases. At the same time we are seeing a number of indicators that are giving signals conducive to higher equity prices, meaning global equities may be gearing up for an eventual breakout topside resistance. In this report we highlight some attractive and actionable themes (Miners, consumer staples, and several attractive individual set ups in Thailand) along with indicators that support our overall constructive outlook.

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new purchases. At the same time we are seeing a number of indicators that are giving signals conducive to higher equity prices, meaning global equities may be gearing up for an eventual breakout topside resistance. In this report we highlight some attractive and actionable themes (Miners, consumer staples, and several attractive individual set ups in Thailand) along with indicators that support our overall constructive outlook.

U.S.Dollar Weakness A Tailwind For International Markets

Despite negative recent developments, we have remained steadfast in our belief that weakness in May has presented an attractive time to add exposure. In our June International Strategy, we highlight various themes which lead to this belief, along with areas of the market where we see actionable opportunities within our favorite Groups, spanning the Consumer Staples, Technology, Consumer Discretionary, Services, Health Care, and Financial Sectors.

Despite negative recent developments, we have remained steadfast in our belief that weakness in May has presented an attractive time to add exposure. In our June International Strategy, we highlight various themes which lead to this belief, along with areas of the market where we see actionable opportunities within our favorite Groups, spanning the Consumer Staples, Technology, Consumer Discretionary, Services, Health Care, and Financial Sectors.

Global Ex-U.S. Equity Strategy: Cautiously Optimistic Outlook Intact

Most major indexes are currently trading at the lower end of their May trading ranges. Barring improving headlines regarding tariffs &amp; trade or comments from the Fed suggesting a potential rate cut on the horizon we believe global markets are vulnerable to further weakness. We review all major markets and highlight attractive opportunities within Japan, and global real estate developers, and consumer staples stocks.

Most major indexes are currently trading at the lower end of their May trading ranges. Barring improving headlines regarding tariffs &amp; trade or comments from the Fed suggesting a potential rate cut on the horizon we believe global markets are vulnerable to further weakness. We review all major markets and highlight attractive opportunities within Japan, and global real estate developers, and consumer staples stocks.

Major Indexes Testing Support & Vulnerable to Further Weakness

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lenskart-solutions-limited" target="_blank" data-smartkarma-citation="entities:45634:1" rel="noopener">Lenskart Solutions (LENSKART IN)</a> (LS) raised around US$825m in its India IPO in November 2025. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Lenskart Solutions (LENSKART IN) (LS) raised around US$825m in its India IPO in November 2025. The lockup on its pre-IPO investors is set to expire soon.
Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Lenskart Lockup Expiry - US$6.7bn Lockup Release with Everyone Well in the Money

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul class=""><li>Naturally healthy beverages recorded current value growth of 19% in 2017 to reach INR39.1 billion.</li><li>Ayurveda-based beverages drove category growth as consumer preferences changed.</li><li>NH superfruit nectars (25-99% juice) was the most dynamic category in 2017 with current value growth of 24%.</li><li>The average unit price of NH beverages rose by 14% in 2017.</li><li>Tata Global Beverages Ltd remained the leading player in naturally healthy beverages in 2017 with a value share of 12%.</li><li>Naturally healthy beverages are expected to record a value CAGR of 13% at constant 2017 prices over the forecast period to reach INR71.5 billion by 2022.</li></ul>

Naturally healthy beverages recorded current value growth of 19% in 2017 to reach INR39.1 billion.Ayurveda-based beverages drove category growth as consumer preferences changed.NH superfruit nectars (25-99% juice) was the most dynamic category in 2017 with current value growth of 24%.The average unit price of NH beverages rose by 14% in 2017.Tata Global Beverages Ltd remained the leading player in naturally healthy beverages in 2017 with a value share of 12%.Naturally healthy beverages are expected to record a value CAGR of 13% at constant 2017 prices over the forecast period to reach INR71.5 billion by 2022.

Sector Capsule: Naturally Healthy Beverages in India

India

Tata Consumer Products Limited produces food and beverage products. The Company manufactures, sells, and exports tea, coffee, salt, oil, pulses, spices, and food products. Tata Consumer Products serves customers worldwide.

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Tata Consumer Products (TATACONS IN)

U.S.Dollar Weakness A Tailwind For International Markets

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new...

Vermilion Research

Global Ex-U.S. Equity Strategy: Cautiously Optimistic Outlook Intact

Despite negative recent developments, we have remained steadfast in our belief that weakness in May has presented an attractive time to add...

Vermilion Research

Major Indexes Testing Support & Vulnerable to Further Weakness

Most major indexes are currently trading at the lower end of their May trading ranges. Barring improving headlines regarding tariffs & trade or...

Vermilion Research

Aequitas: Lenskart Lockup Expiry - US$6.7bn Lockup Release with Everyone Well in the Money

This time around softbank is looking to raise around US$300m via selling some of its stake in Lenskart. The deal is being run by GS.

Sumeet Singh

Sector Capsule: Naturally Healthy Beverages in India

Naturally healthy beverages recorded current value growth of 19% in 2017 to reach INR39.1 billion. Ayurveda-based beverages drove category growth...

Euromonitor International Ltd.

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