OMKARA CAPITAL – DAILY NEWSLETTER (7th July 2026)
After a volatile year of noise and fear, the strategy is to participate with discipline rather than chase every incremental opportunity.
Bulls remain in control, supported by improving technicals, renewed FPI buying, easing crude, and strong early earnings updates.
- Nifty Spot is set to close above its 200-day EMA of 24,420 for the first time since February 27, 2026.
- FPIs recorded their highest fortnightly purchase in the financial sector in 2026.
- Saudi Aramco reduced August oil prices for Asia by $11/bbl.
- India and the EU are working to complete legal scrubbing of the FTA within the next 15–20 days.
- It took a record 4 trading days to go from 52k to 53k for the Dow, the fastest 1,000-point interval ever: previous record was 5 days to go from 32k to 33k way back in 2021.
- Samsung Electronics’ preliminary Q2 operating profit surged 19x YoY to roughly $58.4B, ahead of the $55.3B consensus, making it one of the world’s most profitable companies on an operating income basis.
- Strong Q1 updates continue from companies such as Titan and Jubilant FoodWorks.
The market setup remains constructive: FIIs are returning, FPI buying in financials has strengthened, crude is no longer the dominant concern, and early pre-quarter updates have been encouraging. Financials continue to lead while consumption is beginning to participate, creating a broader opportunity set across sectors.
The surge in initiating reports, block deals, fund raises, and sector ideas reinforces the improving risk appetite that we highlighted a month ago. However, during earnings season, the right approach is to stay anchored to the core portfolio, avoid aggressive pre-positioning, and resist chasing short-term moves where disappointment can be costly, particularly for traders.
We are amid the earnings season, so focus needs to be on the earnings and concalls.
The key risk is that bullish positioning is becoming more crowded just as earnings reactions begin to matter more. Any disappointment in results, guidance, or management commentary could trigger sharp reversals in stocks that have already priced in optimism.
We remain constructive on manufacturing, financials, and healthcare, but the immediate priority is to hold quality core positions, avoid excessive leverage, and monitor earnings delivery closely.
After a volatile year of noise and fear, the strategy is to participate with discipline rather than chase every incremental opportunity.
Warm regards,
Omkara Capital Private Limited
www.omkaracapital.in
Disclaimer: This newsletter is for informational purposes only and should not be construed as investment advice. Please consult your financial advisor before making any investment decisions.
