Makemyinvest Tradesting Newsletter
Weekly Learning & Market Insights – Issue #013
​01 Aug 2026

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Direction • Decision • Discipline

Sector Spotlight

The Week That Moved Markets

1. Reliance Industries

• Reported a strong June-quarter performance, supported by healthy growth in its retail and digital businesses, while management reiterated its focus on expanding new energy investments.

2. Infosys

• Announced quarterly results with continued momentum in large deal wins and AI-led digital transformation projects, while maintaining focus on operational efficiency.

3. Bajaj Auto

• Reported quarterly earnings, with investors closely tracking domestic demand, export performance and margin trends across the automobile sector.

4. Eternal

• Declared quarterly results, with market attention centred on growth in food delivery, quick commerce and the path toward sustained profitability.

5. Wipro

• Remained in focus after announcing shareholder dividend-related updates alongside continued monitoring of its technology services outlook.

6. Persistent Systems

• Continued to attract investor attention following its quarterly performance, reflecting steady demand for enterprise digital transformation services.

7. DLF

• Stayed in focus after dividend-related corporate actions, while investors monitored demand trends in India's residential real estate market.

8. Sona BLW Precision Forgings

• Reported improved quarterly earnings driven by higher revenues, highlighting continued momentum in the automotive components segment.

🌍 Major Global Developments This Week

1. US–Iran & Middle East

• Geopolitical tensions remained elevated, keeping global investors focused on energy security, shipping routes and the potential impact on crude oil prices.

2. US–China Trade

• Markets continued to monitor trade and technology-related developments between the two economies due to their implications for global supply chains and manufacturing sentiment.

3. AI Sector Volatility

• Global technology stocks experienced heightened volatility as investors reassessed AI-related capital spending and earnings expectations.

4. Europe

• Investors tracked economic indicators and inflation trends across Europe for signals on future monetary policy and regional growth.

5. Russia–Ukraine Conflict

• The conflict continued to influence energy markets, commodity prices and overall global risk sentiment.

🏛️ Economic & Policy Developments

1. US Federal Reserve

• The Federal Reserve kept interest rates unchanged, with markets closely analysing future policy guidance and inflation risks.

2. US Employment Data

• Investors awaited key labour market data, which could significantly influence expectations for future US monetary policy.

3. China Economic Data

• Markets looked ahead to major Chinese trade, inflation and PMI releases for insights into the strength of the world's second-largest economy.

4. India

• Domestic investors continued to focus on quarterly earnings, foreign institutional investment flows and upcoming macroeconomic releases.

🛢️ Commodities & Currency Developments

1. Crude Oil

• Oil prices remained volatile as geopolitical developments in the Middle East continued to raise concerns over global supply disruptions.

2. Natural Gas

• Prices fluctuated amid changing supply expectations and ongoing geopolitical uncertainty in global energy markets.

3. Gold

• Gold remained supported by safe-haven demand as investors balanced geopolitical risks with expectations for future interest-rate decisions.

4. Silver

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

5. US Dollar Index

• The US dollar stayed relatively firm as markets evaluated central bank policy signals and upcoming macroeconomic data.

6. Major Currencies

• Currency markets remained volatile as traders reacted to interest-rate expectations, inflation trends and geopolitical developments.

📖 Why It Matters

• Corporate earnings continue to be the biggest driver of stock-specific movements and sector performance.
• Geopolitical developments remain a key influence on crude oil prices, inflation expectations and market volatility.
• Central bank policy expectations continue to shape global bond yields, currencies and equity market sentiment.
• Strong foreign investment flows have helped support Indian equities despite elevated global uncertainties.
• Investors remain focused on balancing robust corporate fundamentals with macroeconomic and geopolitical risks.

Concept of the Week

Understanding Gamma (Γ) in Options

Gamma (Γ) is an Option Greek that measures how quickly an option's Delta changes when the price of the underlying asset moves.

While Delta tells you how much an option's premium is expected to change for a ₹1 move in the underlying, Gamma tells you how fast that Delta itself changes.

How Gamma Works

Suppose a Call Option has:

• Delta = 0.50
• Gamma = 0.08

If the underlying stock rises by ₹1:

• Delta increases from 0.50 to 0.58
• The next ₹1 move will have a larger impact on the option premium because Delta has increased.

If the stock falls by ₹1:

• Delta decreases from 0.50 to 0.42
• The option becomes less responsive to further price movements.

Why Gamma Matters

• High Gamma means Delta changes rapidly, making option premiums highly sensitive to small price movements.
• Low Gamma means Delta changes slowly, resulting in more stable option prices.

Gamma is usually:

• Highest for At-the-Money (ATM) options
• Highest near expiry
• Lower for In-the-Money (ITM) and Out-of-the-Money (OTM) options

Impact on Traders

For Option Buyers

• High Gamma can work in your favor if the market moves quickly in your expected direction.
• Small price moves can lead to significant gains in the option premium.

For Option Sellers

• High Gamma increases risk because the option's Delta changes rapidly.
• A small move in the underlying can quickly turn a profitable position into a losing one, especially near expiry.

Example

Imagine NIFTY is trading at 25,000, and you buy a 25,000 Call Option one day before expiry.

Because it's an ATM option near expiry, Gamma is very high. If NIFTY rises by just 50–100 points, the option premium may increase much more than expected because Delta rises rapidly with each move.

Key Takeaway

Delta tells you how fast you're moving. Gamma tells you how quickly your speed changes.

Think of Delta as the speed of a car and Gamma as the accelerator. The harder you press the accelerator (higher Gamma), the faster your speed (Delta) changes.

Community Win

Wisdom of the Week

Learning Takeaway

Protecting capital is one of the foundations of long-term wealth creation. Great investors focus not only on finding opportunities but also on avoiding unnecessary risks that can permanently damage their portfolios. A practical lesson is to prioritize risk management and understand that preserving capital gives you the ability to participate in future opportunities.

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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