Makemyinvest Tradesting Newsletter
Weekly Learning & Market Insights – Issue #012
​25 Jul 2026

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Direction • Decision • Discipline

Sector Spotlight

The Week That Moved Markets

Reliance Industries

• Reported strong June-quarter results, supported by healthy growth across its digital, retail and oil-to-chemicals businesses. Management also highlighted continued investments in new energy and digital infrastructure.

2. Infosys

• Announced quarterly earnings with management maintaining focus on AI-led transformation, large deal wins and improving demand visibility in key international markets.

3. Wipro

• Declared a dividend with the record date falling this week, while investors continued to assess the company's quarterly business performance and technology spending outlook.

4. Persistent Systems

• Declared a dividend and remained in focus following its quarterly performance, reflecting continued strength in enterprise digital transformation demand.

5. DLF

• Announced a dividend with the record date during the week, keeping the real estate major in focus amid continued interest in the housing sector.

6. Bajaj Auto

• Released quarterly results, with investors closely monitoring domestic demand, export performance and margin trends for the auto sector.

7. Eternal

• Reported quarterly earnings, with markets focusing on growth in food delivery, quick commerce and profitability trends.

8. Sona BLW Precision Forgings

• Reported improved quarterly earnings supported by higher revenue growth, reflecting continued momentum in the automotive components business.

🌍 Major Global Developments This Week

1. US–China Trade Relations

• Markets continued to monitor trade and technology discussions between the two countries, with implications for global manufacturing, semiconductors and supply chains.

2. Middle East Geopolitical Situation

• Ongoing regional tensions kept investors focused on potential risks to energy supplies and shipping routes, contributing to volatility in crude oil prices.

3. Russia–Ukraine Conflict

• The conflict continued to influence global energy markets, agricultural commodities and overall investor risk sentiment.

4. Europe Economic Outlook

• Investors tracked incoming economic indicators and policy signals as expectations for future interest-rate decisions remained data dependent.

5. Global Earnings Season

• Quarterly earnings from major global companies remained a key driver of equity market sentiment, especially across technology and consumer sectors.

🏛️ Economic & Policy Developments

1. US Federal Reserve

• Markets continued analysing recent policy commentary for clues on the timing and pace of future interest-rate decisions.

2. US Labour Market

• Employment indicators suggested continued resilience in the labour market, supporting expectations that monetary policy will remain guided by incoming inflation data.

3. China Economic Data

• Investors monitored economic releases for signs of recovery in industrial activity and domestic consumption, which remain important for global commodity demand.

4. Global Inflation

• Inflation trends across major economies remained one of the primary factors influencing bond yields, currency movements and equity market sentiment.

🛢️ Commodities & Currency Developments

1. Crude Oil

• Oil prices remained volatile as geopolitical developments and supply expectations continued to influence global energy markets.

2. Natural Gas

• Prices fluctuated amid changing demand forecasts and supply expectations across major consuming regions.

3. Gold

• Gold attracted safe-haven buying as investors balanced geopolitical uncertainty against expectations for future interest-rate moves.

4. Silver

• Silver prices reflected a combination of industrial demand expectations and safe-haven interest during a volatile trading week.

5. US Dollar Index

• The Dollar Index remained relatively firm as markets assessed economic data and the outlook for US monetary policy.

6. Major Currencies

• Global currency markets remained active as investors reacted to central bank expectations, inflation data and geopolitical developments.

📖 Why It Matters

• Corporate earnings remain the primary driver of stock-specific movements and sector sentiment.
• Global geopolitical developments continue to influence energy prices, inflation expectations and market volatility.
• Interest-rate expectations remain closely tied to inflation and employment data across major economies.
• Commodity and currency movements continue to affect corporate margins, export competitiveness and overall investor sentiment.
• Investors remain focused on balancing strong corporate fundamentals with evolving macroeconomic and geopolitical risks.

Concept of the Week

Delta – The Probability Indicator

Delta (Δ) is one of the most important Option Greeks. It measures how much an option's premium is expected to change for a ₹1 move in the underlying asset. Delta also provides an approximate probability of an option expiring In-the-Money (ITM).

Understanding Delta

• Call Options: Delta ranges from 0 to +1.
• Put Options: Delta ranges from 0 to -1.
• At-the-Money (ATM) options typically have a Delta close to 0.50 (or -0.50 for puts).
• In-the-Money (ITM) options have higher Delta, while Out-of-the-Money (OTM) options have lower Delta.

Why Delta Matters

• Higher Delta means the option premium reacts more to price movements.
• Lower Delta means the premium is less sensitive to changes in the underlying price.
• Traders often use Delta to select strikes based on their expected probability of success and desired risk.

Example

Suppose a Call Option has a Delta of 0.60.

• If the underlying stock rises by ₹1, the option premium is expected to increase by approximately ₹0.60.
• If the stock falls by ₹1, the premium is expected to decrease by approximately ₹0.60 (other factors remaining constant).

Key Takeaway

Delta tells you two things at once:

1. How sensitive an option's price is to movements in the underlying asset.
2. The approximate probability that the option will expire In-the-Money.

Community Win

Wisdom of the Week

Learning Takeaway

Every market cycle offers valuable lessons, especially when outcomes don't match expectations. Successful investors treat setbacks as opportunities to improve their process rather than reasons to abandon it. A practical lesson is to review both successful and unsuccessful decisions, identify what you learned, and use those insights to make more disciplined choices in the future.

My Content of This Week

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​YouTube Video Link​

​Twitter Post Link​

Book I Am Reading and Recommend

Keep Learning. Keep Tradesting!!! 🚀

Cheers,
​Tapas Chandra
​SEBI Registered Research Analyst | INH000026381
PGP (Research Analysis) | CMT Level-2 Cleared |
Author – Invest or Regret | Ex-JPMorgan Chase

Questions, insights, or lessons from the markets this week?
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