Makemyinvest Tradesting Newsletter
Weekly Learning & Market Insights – Issue #024
​17 Oct 2026

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Direction • Decision • Discipline

Sector Spotlight

The Week That Moved Markets

Tata Consultancy Services

Reported Q2 FY27 revenue of approximately ₹73,118 crore, up 11.2% year-on-year, while net profit rose about 15% to ₹13,884 crore. Strong results helped revive sentiment across Indian IT stocks.

HCLTech

Reported record quarterly net income of ₹5,132 crore and revenue growth of 11.5% year-on-year. AI-related revenue increased sharply, while the company raised its revenue outlook for FY27.

Tech Mahindra

Reported a 32.7% year-on-year increase in Q2 net profit to ₹1,585.6 crore and announced a 1:1 bonus share issue, bringing earnings growth and shareholder rewards into focus.

Wipro

Reported a 9.1% year-on-year increase in Q2 revenue, but net profit declined about 1.5%. Deal bookings fell sharply to $2.6 billion, highlighting continuing challenges in securing new business.

Persistent Systems

Planned to raise up to ₹8,000 crore through rupee-denominated bonds to help finance its acquisition of Germany-based Nagarro. The proposed debt issue highlights the funding requirements associated with large overseas acquisitions.

IDBI Bank

The Union Cabinet approved the sale of a 60.72% stake in the bank to Canada's Fairfax Financial Holdings for approximately ₹52,878 crore. The transaction marks a major milestone in India's bank-privatisation programme, subject to required approvals.

Kalpataru Projects International

Secured new orders worth approximately ₹2,225 crore across its power transmission and distribution business, strengthening its domestic and international infrastructure pipeline.

Bharat Dynamics

Received a ₹1,307 crore contract from the Indian Navy for heavyweight torpedoes, adding to defence-sector order visibility and domestic military procurement activity.

Adani Power

Received a letter of award for a 25-year power-supply contract covering 1,234 MW for Uttarakhand, adding a long-term power-generation commitment to its portfolio.

IRCON International

Secured an EPC contract worth approximately ₹862.46 crore from East Central Railway for track and railway infrastructure works, strengthening its railway-project pipeline.

Bharat Electronics

Received additional orders worth approximately ₹533 crore across defence electronics, drones, cybersecurity and related systems, supporting continued order inflows in the defence technology sector.

Premier Energies

Reported solar supply and engineering orders worth approximately ₹4,001 crore during Q2 FY27, highlighting continued activity across India's solar manufacturing and project-development ecosystem.

LTM

Reported Q2 revenue growth of approximately 14% year-on-year to ₹1,380 crore, while profit remained broadly flat. The company also announced a dividend of ₹25 per share.

PTC Industries

Its aerospace subsidiary secured an order from Safran for titanium cast components used in LEAP aircraft engines, reinforcing India's role in the global aerospace supply chain.

🌍 Major Global Developments This Week

US–Iran Conflict

Renewed military escalation and attacks on regional infrastructure heightened concerns about energy supplies, shipping security and the inflationary impact of prolonged conflict in the Middle East.

Strait of Hormuz

Shipping disruptions and fresh security concerns around the Strait kept global oil and LNG supply routes vulnerable, adding uncertainty to energy prices and transportation costs.

Saudi Energy Infrastructure

Houthi attacks on Saudi targets, including energy infrastructure near Yanbu, intensified supply concerns and pushed Brent crude to a five-month high near $110 per barrel.

Global Bond Markets

US Treasury yields remained elevated amid renewed inflation concerns and uncertainty over the Federal Reserve's next policy move, keeping global borrowing costs and equity valuations in focus.

Global AI and Semiconductor Stocks

AI-related equities faced a significant sell-off as investors questioned the returns on heavy AI infrastructure spending. The weakness spread across semiconductor stocks and technology-heavy Asian markets.

Russia–Ukraine

Continuing attacks and uncertainty over energy-related arrangements kept European energy security, sanctions policy and global commodity supply chains exposed to geopolitical risks.

🏛️ Economic & Policy Developments

India Retail Inflation

India's retail inflation rose to 5.54% in September, its highest level of the year under the current data series, driven largely by food and energy costs. The increase adds to the challenges facing monetary policy.

US Consumer Inflation

US CPI inflation accelerated to 3.7% year-on-year in September, with prices rising 0.6% month-on-month. Higher gasoline and energy costs contributed significantly to the increase.

US Producer Inflation

US producer prices jumped 1.3% in September, the largest monthly increase since March 2022. Rising energy and transportation costs intensified concerns about broader inflationary pressure.

Federal Reserve Rate Outlook

Stronger-than-expected inflation data complicated the outlook for US interest rates. Markets continued assessing whether persistent price pressures would delay any easing in monetary conditions.

India Merchandise Trade

India's merchandise exports rose 23% year-on-year to $44.4 billion in September, while imports reached $74.61 billion. The monthly trade deficit widened to $30.21 billion from $26.86 billion in August.

IDBI Bank Privatisation

The Cabinet's approval of the Fairfax transaction marked a significant step in India's disinvestment programme, potentially generating substantial government receipts once the transaction is completed.

Indian Equity Market Recovery

Indian equities recorded their strongest weekly performance in six months, led by IT stocks after better-than-expected earnings. The Nifty 50 gained approximately 2.8%, while the Sensex rose about 3.1% over the week.

🛢️ Commodities & Currency Developments

Crude Oil

Brent crude surged toward $110 per barrel, its highest level in five months, following renewed attacks on Saudi energy infrastructure and escalating concerns over Middle Eastern supply disruptions.

Natural Gas

Natural-gas markets remained sensitive to Middle East shipping risks and potential LNG supply disruptions. Changes in storage levels and seasonal demand continued to influence price movements.

Gold

Gold was on track for a weekly decline of approximately 0.7% as higher US inflation and the possibility of further interest-rate increases reduced demand for non-yielding assets.

Silver

Silver recorded a weekly decline of approximately 0.7%, pressured by inflation concerns and uncertainty over US monetary policy, although precious metals recovered somewhat toward the end of the week.

US Dollar Index

The dollar eased from recent highs as Treasury yields retreated and expectations of an immediate Federal Reserve rate increase moderated, providing some relief to other currencies.

Indian Rupee

The rupee strengthened by approximately 1.9% over the week, closing near ₹94.96 per dollar. RBI intervention, a softer dollar and easing oil prices supported the recovery.

Why It Matters

• Inflation and crude oil are the biggest macro concerns.Higher energy prices are adding pressure to inflation in India and the US, complicating the outlook for interest rates and corporate costs.
• Indian IT stocks are leading the market recovery.Better-than-expected quarterly results from major technology companies have improved sentiment, although demand visibility and deal bookings remain important variables.
• Foreign investment and corporate restructuring remain key themes.The proposed IDBI Bank stake sale, Persistent Systems' acquisition financing and large infrastructure orders highlight continuing capital flows and consolidation.
• Currency and liquidity conditions remain important for Indian equities.The rupee's recovery offers some relief, but the impact of oil prices, foreign investor flows and monetary tightening warrants attention.
• Defence, power and infrastructure continue to generate substantial orders.New contracts across Bharat Dynamics, Bharat Electronics, Kalpataru Projects and IRCON highlight ongoing demand for domestic industrial and infrastructure capabilities.

Concept of the Week

Fibonacci Retracement

Definition

Fibonacci Retracementis a technical analysis tool used to identify potential pullback levels during an ongoing price trend.

It uses horizontal levels based on Fibonacci ratios to estimate where price might pause, find support, or face resistance before continuing its move.

The commonly watched levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. The 50% level is widely used by traders, although it is not technically a Fibonacci ratio.

How It Works

• In an uptrend:Draw the tool from a significant swing low to a swing high to identify potential pullback support levels.
• In a downtrend:Draw it from a significant swing high to a swing low to identify potential pullback resistance levels.
• Look for confluence:A Fibonacci level becomes more interesting when it overlaps with an existing support zone, trendline, or previous breakout level.
• Wait for confirmation:Look for price action indicating that buyers or sellers are responding at the level.

Example — NIFTY

Suppose NIFTY rises from 24,000 to 25,000, a move of 1,000 points.

The potential retracement levels are:

Fibonacci level

These levels represent possible pullback areas measured from the 25,000 swing high.

For example, if NIFTY pulls back to 24,382, the 61.8% retracement level, and forms a bullish reversal candle near an existing support zone, a trader may consider a potential long setup.

The level alone is not a buy signal.

Why It Matters

Fibonacci Retracement can help traders:

• Identify potential entry zones during a pullback.
• Plan stop-losses based on price structure.
• Assess whether a retracement is shallow or deep.
• Identify areas where multiple technical signals overlap.

Risk / Common Mistake

Fibonacci levels are reference points, not guaranteed support or resistance.

Different traders may select different swing highs and lows, producing different levels. Price can also move straight through a Fibonacci level without reacting.

Avoid entering a trade simply because price touches 61.8%.

🎯 Key Takeaway

Pro Tip

On NIFTY or BANKNIFTY, start with a clear, significant swing rather than tiny intraday movements. Look for a Fibonacci level that aligns with a previous breakout zone or market-structure support, and wait for price confirmation before considering a trade.

Community Win

Wisdom of the Week

Learning Takeaway

• Understanding an investment matters more than simply owning it.
• Uncertainty grows when decisions are made without sufficient knowledge.
• Confidence without understanding can lead to costly mistakes.
• Before making a financial decision, identify what you know, what you don’t, and what could go wrong.

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-3 |
Author – Invest or Regret & The Power of Tradesting | Ex-JPMorgan Chase

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