Fundamental
Near-term stress, valuations attractive in long run
We believe valuations are attractive at current levels. We recommend Buy with a PT of Rs. 1,585.
Soft Q3; demand to improve gradually
Stock trades at 54x/48x/42x its FY26E/FY27E/FY28E EPS, respectively. We maintain Buy on the stock with a revised PT of Rs. 3,105.
Launches paused in Q3; activity to resume in Q4
The company is confident to achieve its full year pre-sales guidance of Rs. 20,000 crore (80% already done). Exit rental expected Rs.6400 for FY26.
Persistent Ad Weakness; Margin Recovery Slower than Guided
Court case v/s Jio also represents operational uncertainty. Hence, we revise our price target to Rs. 1111
Commodities
Metals Rally at Risk on Weak Chinese Demand
Global copper prices have risen 22% in absolute terms since November 27th 2025, and were up 42% for the whole year in 2025.
Market switch focus to US FOMC
The finalized EU-India trade deal creates a free trade zone covering a quarter of global GDP and two billion people after nearly 20 years of negotiations.
Commodity Info Kit dated January 28, 2026
Day to day update of price, volume and open interest in commodities.
Eagle Eye Commodity dated January 28, 2026
Day to day update of levels for commodities.
F&O
Rollover analysis for February 2026 series
A Derivative Rollover Report is a vital piece of market analysis, typically released during the last week of a monthly expiry (usually the last Tuesday of the month).
Derivatives Info Kit dated January 27, 2026
Day to day update of key PCR and change in open interest data for key indices and F&O stocks.
Derivatives Info Kit dated January 23, 2026
Day to day update of key PCR and change in open interest data for key indices and F&O stocks.
Derivatives Info Kit dated January 22, 2026
Day to day update of key PCR and change in open interest data for key indices and F&O stocks.
Technical
Holding above 200-DMA
The Nifty opened gap-up and saw a volatile trading session, but managed to sustain above the 200-DMA placed at 25121.
Volatility spikes
The Nifty opened gap down and continued its bearish momentum, breaching the psychological support of 25000
In sell-on-rise mode
The Nifty opened on a flat to positive note and failed to sustain at higher levels indicating strong rejection at 25900 levels.
Stuck in a range
The Nifty opened on a flat note and saw a rangebound trading session
Macro & Strategy
US December CPI report: Tamer than expected
The December US CPI reading was expected to give a better picture of the US consumer inflation
US nonfarm payroll report: Job market stabilizing but remains weak
US nonfarm payroll released on January 9 has been eagerly awaited as it offered the first real picture of the job market after September 2025
FOMC Preview - On the anvil of a rate cut spree
We expect the US Federal Reserve FOMC to cut rates by 25 bps to 4-4.25%; markets have priced in the move with some expecting 50-bps cut.
2026 - Base metals set for pivotal shift
The global economy is adapting swiftly to technological and geopolitical shifts
ETF
Picking the right cherries
In this inaugural edition of our Equity ETF Picks report, we look at three key themes – automobile, PSU banks and the Nifty 50 itself
Bullion on a Bull Run
Silver has entered 2026 as one of the best-performing assets, having surged over 140% in 2025
