Makemyinvest Tradesting Newsletter
Weekly Learning & Market Insights – Issue #020
​21 Sep 2026

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Direction • Decision • Discipline

Sector Spotlight

The Week That Moved Markets

Tata Group

• RBI’s decision concerning Tata Sons’ regulatory status brought the conglomerate’s potential listing and governance structure back into focus, triggering renewed attention across major Tata Group companies.

Yatharth Hospitals

• Advent International agreed to invest ₹3,150 crore for a 24.9% stake through primary capital, providing funds for the hospital chain’s expansion and strengthening private-equity participation in healthcare.

Bharat Forge

• Opened a qualified institutional placement with a floor price of ₹1,947.70 per share, providing the company with an institutional fundraising route for future growth and strategic initiatives.

Bharat Electronics

• Secured fresh orders worth about ₹648 crore across defence and technology products, including electronic systems, cybersecurity and laser-jammer related equipment.

RailTel

• Secured orders worth more than ₹260 crore, including projects from Prasar Bharati and Western Coalfields, supporting continued activity in railway and digital infrastructure.

PVR INOX

• Its ₹300 crore share buyback at ₹1,450 per share concluded during the week, with the company offering to repurchase nearly 21 lakh shares through the tender route.

Share India Securities

• Completed the acquisition of 100% of Enshrine Leasing and Infotech for approximately ₹39.72 crore, adding the acquired entity as a wholly owned subsidiary.

Juniper Hotels

• Approved the proposed acquisition of the Novotel Imagicaa hotel undertaking in Maharashtra for approximately ₹248 crore, expanding its hotel portfolio through an inorganic growth opportunity.

GNFC

• Sanjeev Kumar was appointed as Managing Director following the company’s annual general meeting, bringing a management-transition development into focus for the fertiliser and chemicals business.

Coforge

• Continued to remain in focus following recent board-level developments, while the company announced initiatives around AI-led enterprise transformation and expansion of its automotive engineering capabilities.

Kaynes Technology & Syrma SGS

• Semiconductor-related companies remained in focus as SEMICON India 2026 highlighted continued policy and industry attention on domestic semiconductor manufacturing and electronics supply chains.

Welspun Corp

• Its subsidiary secured a $209 million order from Saudi Aramco, adding a significant international order to the company’s energy-infrastructure business.

🌍 Major Global Developments This Week

US–Iran Conflict

• Renewed tensions between the US and Iran kept markets focused on the risks to energy supplies, shipping routes and inflation, with crude remaining above the $100-per-barrel mark for much of the week.

Strait of Hormuz

• Vessel traffic through the Strait remained sharply below normal levels, keeping global oil and LNG supply chains exposed to continued geopolitical disruption.

Saudi Oil Infrastructure

• Attacks on Saudi infrastructure disrupted an important crude transportation route, while Saudi Arabia increased shipments through the Strait of Hormuz to offset some of the disruption.

US–China Relations

• US-China diplomatic engagement intensified ahead of a planned Trump-Xi meeting, with trade, technology, AI and broader economic relations remaining important themes for global markets.

Japan Monetary Policy

• The Bank of Japan raised its policy rate to 1.25%, its highest level in 31 years, reinforcing the global trend toward tighter monetary conditions.

Russia–Ukraine

• Continuing geopolitical tensions kept European energy security and commodity markets sensitive to potential disruptions in energy and logistics infrastructure.

🏛️ Economic & Policy Developments

US Federal Reserve

• The Federal Reserve raised its benchmark interest-rate range by 25 basis points to 3.75%–4.00%, marking its first rate increase in more than three years as inflation remained elevated.

US Inflation

• August CPI increased 0.4% month-on-month and 3.4% year-on-year, while core inflation also remained firm, reinforcing concerns around persistent price pressures.

India Retail Inflation

• India’s August retail inflation accelerated to 4.82% from 4.45% in July, with broader price pressures strengthening the focus on the RBI’s monetary-policy stance.

India Wholesale Inflation

• Wholesale inflation rose to 9.92% in August from 9.78% in July, driven by higher fuel, petroleum, food and manufactured-product prices.

RBI Liquidity Management

• The RBI announced government-bond sales worth ₹1 lakh crore to absorb surplus banking-system liquidity, while bond yields remained under pressure amid higher crude prices and global rates.

NSE IPO

• The National Stock Exchange’s roughly ₹22,600 crore IPO was fully subscribed and closed on September 21, making it a major event for India’s primary and capital-markets ecosystem.

🛢️ Commodities & Currency Developments

1. Crude Oil

• Brent crude remained above $100 per barrel amid Middle East supply concerns, although prices eased toward the end of the week as Saudi exports recovered and hopes of diplomatic progress emerged.

Natural Gas

• US natural-gas futures ended the week higher, supported by power-sector demand and relatively modest storage additions, while LNG flows remained sensitive to developments around the Strait of Hormuz.

Gold

• Gold recovered toward the end of the week and posted its first weekly gain in four weeks, supported by easing crude prices and continued demand for safe-haven assets amid geopolitical uncertainty.

Silver

• Silver also gained during the week, with prices supported by precious-metal demand despite pressure from higher US Treasury yields and tighter monetary policy.

US Dollar Index

• The dollar strengthened to multi-week highs following the Federal Reserve’s rate hike, while expectations of further tightening kept global currency markets volatile.

Indian Rupee

• The rupee weakened about 0.3% during the week to around ₹95.88 per dollar as elevated crude prices and higher global interest rates weighed on the currency, while RBI intervention helped limit volatility.

Why It Matters

• Crude oil and the Strait of Hormuz remain the biggest macro variables, with energy-supply disruptions creating renewed inflation risks for India and other import-dependent economies.
• Global monetary policy is turning more restrictive, with the Fed and Bank of Japan raising rates while US Treasury yields remain elevated.
• Indian inflation is moving higher, while the RBI’s liquidity withdrawal is keeping bond yields, interest rates and the rupee important market variables.
• Primary-market activity remains strong, with the NSE IPO and multiple corporate fundraises highlighting continued capital-market activity despite broader equity-market pressure.
• Healthcare, defence, semiconductors, infrastructure and financial services saw notable corporate developments, creating significant stock-specific news flow during the week.

Concept of the Week

Average True Range (ATR)

Definition

ATR (Average True Range) is a technical indicator that measures market volatility — essentially, how much a stock or index typically moves over a given period.

It does not tell you whether the price will go up or down. It only tells you how much the price is moving.

How It Works

ATR is calculated from the True Range (TR), which considers:

• Today's High − Today's Low
• Today's High − Yesterday's Close
• Today's Low − Yesterday's Close

ATR then takes the average of these True Range values, commonly over 14 periods.

Example

Suppose NIFTY has a 14-day ATR of 180 points.

This means NIFTY has recently been experiencing an average daily movement of roughly 180 points.

If NIFTY is at 25,000, a move toward 25,180 or 24,820 represents approximately one ATR of movement.

Why It Matters

ATR is particularly useful for:

• Stop-loss placement
• Position sizing
• Identifying high- and low-volatility periods
• Comparing volatility across stocks
• Setting realistic profit targets
• Adjusting trading strategies to market conditions

For example, using the same ₹10 stop-loss for a low-volatility stock and a highly volatile stock may not make sense. ATR helps traders adapt risk to the market's current movement.

Risk / Common Mistake

A common mistake is treating ATR as a directional indicator.

High ATR ≠ bullish​
​Low ATR ≠ bearish

ATR only measures the magnitude of price movement.

Key Takeaway

Pro Tip

Instead of using a fixed stop-loss for every trade, traders can study ATR-based stops, such as 1.5× ATR or 2× ATR, and then adjust position size so that the rupee risk remains within their predefined risk limit.
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Community Win

Wisdom of the Week

Learning Takeaway

• Price tells you what the market is paying; value asks what the underlying business is worth.
• Short-term price movements can distract investors from the fundamentals that actually drive long-term outcomes.

Action lesson: Before reacting to a price move, step back and ask: Has the value of the business really changed?

My Content of This Week

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​YouTube Video 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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