Dear Reader, Trump induced volatility is hitting the Indian markets yet again. Indian markets have given up all the gains from hope-rally of 2 weeks, the hope being better relations with the US. With earnings nowhere in sight and constant FII selling pressure, we maintain our call on Nifty near term top at 25,700 in our June 28th newsletter. To add salt to injury, INR has declined to lifetime lows vis-a-vis USD. This is why we maintain diversification as the best antidote to