Is this the start of a Massive Bull Leg?

Markets Overview

It has been a great week on multiple fronts. The first major positive development has been the visible thawing of Indo–US relations. The rhetoric around tariffs seems to have cooled, and the market is sensing that the worst of the tariff war may already be behind us. There is growing expectation that announcements easing trade tensions could be around the corner. The market, as always, is forward-looking, and it is already pricing in improved diplomatic tone and potential tariff rollbacks.

Alongside this, portfolios that had meaningful allocation to precious metals delivered standout performance, as gold and silver continued their historic surge. This is no longer just a price trend—it is part of a larger monetary phenomenon where confidence in fiat currency is visibly eroding and physical metal shortages are driving irrational price behavior. Adding to the upbeat sentiment, the result season has begun, and as of 18th October, reliance results look strong and may support market sentiment further as we step into the next trading week.

On the daily chart, the momentum is clear. The last three sessions alone have added nearly 500 points to the Nifty, resulting in a 1.68% gain for the week. This is not a random bounce—the price action shows a deliberate attempt to break past the high established back in July, indicating that buyers are willing to step in aggressively at higher levels and are no longer waiting for deep corrections to accumulate.

Latest Daily Byte

It was a quiet day in the markets today. The Nifty was up, along with large caps and Bank Nifty, but mid and small caps took a bit of a hit. There wasn’t any major news in the market, but earnings results have started to come in. By next week, we will probably have a clearer idea of whether most companies are meeting expectations or not.

Gold and silver continued their strong performance. Gold was around ₹4,380 this morning, which is surprising because just last week it was below ₹4,000. The speed at which gold is rising is impressive for investors but also a bit concerning.

When prices move this fast, it usually signals that something deeper in the system might be breaking. Such rapid moves can lead to problems for hedge funds or banks, as positions get trapped on the wrong side of the trade.

Rebalance Update for the week