Prasenjit Paul

8th April 2026 Pre-Market Update After a lot of drama & threats, President Trump announced a two-week ceasefire, while Iran declared the possibility of a “Safe Hormuz Passage” — so expect a MASSIVE short-term rally in stocks… BUT BUT ⚠️ 👉 As we mentioned in our earlier post, the mid-term US election is the only reason why Trump is desperate to pause the war to cool down oil prices & inflation. Don’t expect this to bring permanent peace in the Middle East or clear all uncertainties from the stock market. 👉 In line with earlier communication, don’t track the war; track global oil prices 🛢️. If somehow global oil prices come down to pre-war levels (low probability) & sustain, then Indian stocks will witness a sustainable long-term rally 📈. Until that happens, every rally will be followed by correction & every correction will be followed by rally 🔄. Actionable Insights 👉 We have already shared with detailed rationale that “Selected Pharma” will remain our preferred bet for the entire 2026 💊. Selected IT stocks 💻 & companies fully dependent on the domestic market (without any global supply chain risk) are also expected to do well. 👉 Earlier, we had already shared a modified “Good Buy” list with our paid members in both subscription packages. Hope you followed the same & positioned accordingly 👍. We are now gearing up for new stock recommendations 🚀. 👉 We will use the current rally to exit from stocks that are most vulnerable to global supply chain risks 🌍. So, you may expect some exit alerts as well ⚠️. Overall, during the massive crash in the last few weeks, we said multiple times - don’t panic & don’t sell ❌. “Paper loss” or unrealized loss means nothing. Similarly, in the upcoming rally, our message is simple - don’t get tempted by short-term rally, and don’t let FOMO (Fear Of Missing Out) force a hurried buy decision 🚫. Market always gives enough time for both entry & exit - if we can keep emotions aside 🧠. 📲 To get similar updates, join our Free WhatsApp Channel: whatsapp.com/channel/0029Vb… (The above is not investment advice, but a macro-economic view of Prasenjit Paul, Equity Analyst at Paul Asset and Fund Manager at 129 Wealth Fund, SEBI-registered Category III AIF. Visit paulasset.com for more details.

3rd April 2026 – Yesterday, Trump imposed 100% tariff on patented Pharma drugs - Headline looks scary 😨, BUT it is negative for a select few while mostly POSITIVE for many Pharma cos! 👍 Breakdown of the news in simple language 👉 Indian pharma companies that manufacture in India but sell branded/patented drugs in the US will face a 100% tariff unless they commit to open manufacturing line in the US within the next 120/180 days. 👉 This is negative for companies like Sun Pharma, Divis, Syngene, etc., who are selling patented drugs or supplying APIs from India to produce patented drugs in the US ⚠️ The move may not impact sales, but it will definitely put pressure on margins 📉 👉 Interesting part, ~90% of Indian pharma companies supply generic drugs or APIs to produce generic drugs to the US, which are currently exempt from tariffs 💊 Why? Because American consumers won’t be able to afford further price hikes in generic medicines, and Trump won’t risk that before the mid-term elections 🗳️ 👉 However, within a year or so, even generics will face tariffs, but not 100%. It could be in a reasonable range of 15-20% if companies don’t shift manufacturing 🏭 What’s happening behind the scene? 🤔 With this 100% tariff headline, Trump is putting pressure on large pharma innovators to announce new manufacturing setups in the US so that it will help him push the “US First” narrative before mid-term elections. 🎯 How can investors benefit? 💡 We had already shared yesterday why selected pharma stocks will remain our preferred picks for 2026 📊Due to tariff-related fears throughout 2025, valuations of many quality pharma companies became reasonable while their business fundamentals actually improved 👍 Live examples from our recommendations 📌 ✔️ Last year in March 2025, we recommended Senores Pharma under “High Volume Stock Recommendations” as it was best placed to benefit from US tariff dynamics. ✔️ Last year in June 2025, we recommended Kwality Pharma under “Multibagger Potential Stocks” because they had no direct US tariff linkage, but their valuation was attractive due to negative sentiment on overall Pharma ignoring company specific micro tailwinds. You can email us for our last year’s reports on these companies 📩 Both stocks are example, how profit is made when markets are filled with negative news & sentiment 💰 What’s next? 🔍 This month in April 2026, we plan to recommend: 👉 At least 1 Pharma stock under “High Volume Stock Recommendation” 👉 Maybe another 1 under “Multibagger Recommendation” There are already “Good Buy” stocks in both categories ✅ Final thought 💭 Read beyond the headlines. Let market panic create opportunities, not fear-driven exits 🚀 (The above is not investment advice, but a macro-economic view of Prasenjit Paul, Equity Analyst at Paul Asset and Fund Manager at 129 Wealth Fund, SEBI-registered Category III AIF. Visit paulasset.com for more details.) To receive similar updates in future, join our Free WhatsApp Channel - whatsapp.com/channel/0029Vb…

2nd April 2026 Pre-Market Update - Another FALL expected & our preferred sector 📉 President Trump has indicated he wants to end the war soon, but is also looking for one more strong attack. Given this backdrop, the market is expected to fall today. As mentioned in our last few updates, this is the phase where investors should start positioning themselves. How? Read on 👇 💊 Our Preferred Sector – Pharma For the entire 2026, Pharma will remain our preferred bet for the following reasons: 💱 Indian Rupee Depreciation Beneficial for export-oriented niche pharma players. INR has already depreciated, and elevated oil prices along with global uncertainty are expected to keep the rupee under pressure. 🛡️ Somewhat Immune War, no war, global shocks, Trump’s drama - irrespective of anything, demand for niche and critical pharmaceutical products will remain firm. This makes it a relatively recession-proof segment. 📊 Reasonable Valuation This is the most important reason. Pharma did not participate in the 2024 rally. Companies that improved earnings and prospects during 2024-2025 are now available at lower end of valuation levels in the last many years. ⚠️Important Reminder More than the selling price, your PROFIT is determined by your BUYING price. No matter how strong the story or tailwind is, your entry price decides the outcome; profit or loss. Last year, many investors entered solar and data center-themed stocks and faced losses. Not because the theme is dead, it’s still strong and will remain so for years, but because the entry was at higher valuation. The same logic applies now 👇 Not every pharma company will generate wealth in 2026. While many may benefit from reasonable valuations, true outperformance will come from companies that: ✔️ Improved earnings & prospects in the last 2 years ✔️ Are still available at relatively lower valuations compared to the last 2–3 years. Current market uncertainty and Trump’s ongoing tantrums are creating exactly this kind of valuation mismatch ⚡ *Actionable Insights* 📌 We have already added Pharma stocks to both our subscription “Good Buy” lists. 📌In our AIF portfolio, Pharma stocks have the higher allocation among all sectorial allocation & we are adding up with new names & rotating money. 📌 You can expect one new Pharma stock in our High Volume Stock Recommendation within this month 🔜 *(The above is not an investment advice, but macro-economic view of Prasenjit Paul, equity analyst at Paul Asset and fund manager at 129 Wealth Fund, SEBI-registered Category III AIF. Visit paulasset.com for more details.)* To receive updates, join our Free WhatsApp Channel - whatsapp.com/channel/0029Vb…

1st April 2026 Pre-Market Update – Today massive rally on cards BUT… 🚀⚠️ Kindly read our last 4-5 updates in WhatsApp Channel regarding war & market outlook to understand the context 📊 - As we have been mentioning for the last few weeks, just because of the US mid-term election, President Trump will remain desperate to bring down oil & gas prices to pacify US consumers.⛽ - Now, in his public comments, he is saying US will soon exit the war & gas prices will fall; such comments will trigger a short-term market rally in the hope of ending the Middle-East war & cooling down oil prices. 📉📈 - The problem is, US is desperate to exit the war, BUT Iran & Israel are willing to continue. ⚔️ - It is true that US pressure may force both Iran & Israel to slow down the war, but the long-term oil price outlook will depend on how Iran & Israel behave going forward. - As told earlier, as an equity investor & consumer, don’t track the war; track oil prices to understand market direction. 📊⛽ - So, no matter who is winning or losing, or how long the conflict continues, at the end of the day it is oil & gas prices that will decide market direction. As mentioned in the last few updates, we didn’t share any new recommendations, nor did we sell anything in March 2026 (only changes in the Good Buy list). 📌 However, we will share new stocks in April 2026 because it is always better to take positions when the “bottom seems past” rather than “pre-empting the bottom.” ⏳ The upcoming rally can also be used to exit the weakest stocks. ⚠️ For the last few weeks throughout March 2026, our message has been simple: 👉 Don’t panic sell 👉 Invest slowly, tranche by tranche, in existing “Good Buy” labelled stocks available under website “Members Zone” 👉 Avoid aggressive buying that depletes capital 👉 New stock recommendations will come soon, and you can position accordingly And if something is absolutely necessary to sell, don’t sell during panic crashes, sell during the upcoming relief rally. 👍 (The above is not an investment advice, but macro-economic view of Prasenjit Paul, equity analyst at Paul Asset and fund manager at 129 Wealth Fund, SEBI-registered Category III AIF. Visit paulasset.com for more details.) For similar updates, join our Free WhatsApp Channel - t.co/Y8jdwfVtuc

30th March 2026 Morning Update – Expect further correction BUT… ⚠️📉 There is a very high probability of correction today & in the next few days, BUT the bottom is not far away. Consider the following points 👇 • Historically, BOTTOMs are made when there is negative news, much before positive news hits public media, due to the forward-looking nature of the market. • Majority of stocks across the market are already at 52-week lows. Expect more to hit this week, which creates panic in the market & further forced selling, ultimately putting more pressure on stock prices. 😟 • It can be tough to watch your portfolio bleed day by day & many investors will press the exit button or fully pause investment/SIP, this is exactly why the last leg of a crash is violent & forces many more investors to sell. • Selling in the current market means you will exit near the bottom. Markets never move in a straight line, if selling is absolutely necessary, do it in a relief rally, not in panic downfall. • The only people who should sell (and are selling) are those who are in borrowed money. Margin calls trigger & force even large institutions to sell against their wish, creating a violent last leg of panic. • We have always said, investing with borrowed money is suicidal for retail investors. None of our investors should be in a borrowed capital position, so nobody can force you to sell except your own mind. • Remember: there is no profit/loss unless you are selling. Profit/Loss belongs to the market as long as you are holding your position. • It is the most difficult task to continue or increase investment when your portfolio is bleeding & negative news is everywhere , but this is exactly where wealth creators of the next cycle position themselves. 💰 Remember, Profit is not decided by your Selling Price, it is decided by your Purchase Price. • Continuing investment in a falling market doesn’t mean aggressive or revenge buying, that will exhaust your capital before the market bottoms. • Nobody can predict the exact bottom, so the only way to benefit is staggered, slow gradual investment, tranche by tranche. 📊 Our current stance: In the last 2 months, we have not shared any new stock recommendations. “Good Buy” stocks were already shared last week for Multibagger Recommendations subscribers, where you can do gradual tranche-based buying. For High Volume Recommendations, expect a new stock & a refined “Good Buy” list in the coming days/weeks. 🧘‍♂️ Final thought: This week has a few market holidays. The best thing a retail investor (with no borrowed position) can do is — close the terminal, stop checking the portfolio & take an extended weekend trip. 🌴We, as professionals in equities, can’t do that, rather our workload increase multi fold due to daily accountability… But if I were in your position, I would definitely do it 👍 (The above is not investment advice, but a macro-economic view of Prasenjit Paul, equity analyst at Paul Asset and fund manager at 129 Wealth Fund, SEBI-registered Category III AIF. Visit paulasset.com for more details.)

Market Rally for Tomorrow 💹 End of War Soon? Currently, more than anything else Donald Trump is worried about unfavourable result in 2026 mid-term election so he is desperate to lower down the oil price & thus announced “5 days Pause” in war. Remember, higher oil price puts huge pressure in almost all household budget, if high oil price persists till 2026 end then angry US consumers reeling under inflation will cut down US Congress power that will make very difficult for Trump to pass any bill for his remaining presidency years. So, the top priority of Trump is to lower down the oil price.🛢 Fortunately Indian stock market & economy also will benefit from lower oil price irrespective of war. So, if you are an investor, global oil price trajectory should matter you the most, not how long the war is continuing or who is losing or winning in the war. While Russia-Ukraine war started in 2022, oil price spiked, Indian stock market corrected & later oil price cooled down market rallied across 2023 &2024. Even today Russia-Ukraine war is continuing but market don’t care about Russia war rather it cares about global oil price. Tomorrow, Sensex will open gap up, a 1500+ points massive rally will most likely in cards. 📈How long the uptrend will continue depends on oil price trajectory. Our estimate suggests that in entire April 2025, Brent Crude will remain in USD 90-100 range & if that happens market will fully restrict downfall & will consolidate. However, if by any chance oil price cools down below pre-war level, then a massive rally will be in the cards (low probability). 💹 The only country that won’t stop the war to end is Israel 🇮🇱 because unlike the US, for Israel this is an opportunity to permanently destroy the Iranian threat, but for the US the primary aim is to lower oil prices to pacify US consumers (voters). So, expect some divergence in narrative from US, Israel & Iran. Middle-East war may continue for some time longer but all that matters for global consumers & investors is oil & gas prices. (The above is not an investment advice but macro-economic view of Prasenjit Paul, equity analyst at Paul Asset & fund manager at 129 Wealth Fund, SEBI registered Cat-III Alternative Investment Fund. Visit paulasset.com for more details.) For market related updates, join our Free WhatsApp Channel - whatsapp.com/channel/0029Vb…

My View on Iran War - Brace for more short term pain & position for long term gain. Click here to join our WhatsApp Channel at Free whatsapp.com/channel/0029Vb…

The sharp correction in IT giants isn't just market noise; it’s a structural shift. While generic headcount models struggle, we prefer to capture the next multibagger from the same IT segment by focusing on specialized firms leveraging Agentic AI. #ITStocks #GenAI

After IT stocks sell-off based on Anthropic AI new capabilities, I strongly started believing - many multibaggers as well as wealth destroyers will emerge from the same IT segment in 1-2 years. Our recent recommendation & AIF portfolio has similar themed stocks. #ITSellOff

My take on India US trade deal. It may formally end the carnage in smallcap & microcap segment, expecting exciting times ahead!

My comment on Mint & Economic Times regarding Bharat Coking Coal IPO

Effective financial planning should focus on your required rate of return, not chasing past top-performing assets. In my Mint article, I explain common pitfalls, how to avoid them, and the right approach to long-term investing. livemint.com/money/personal…

@iparatx Glad you found it useful even though all examples are from Indian market only. I can easily translate your tweet but not the screenshots. May I know for which stock exchange and chapters did you find most relevant? Your inputs may inspire me to launch a global edition!

Quizás el título no llama pero "Cómo evitar pérdidas y ganar consistentemente en el mercado de valores" de @paulasset es una excelente manera de aproximarse a la #Bolsa usando el sentido común Circunscrito al mercado indio. Pero los ejemplos son igual de válidos #Iparbooks📚

9/9 This is not a BUY/SELL recommendation. I am a Research Analyst at Paul Asset, SEBI-registered RA firm, also Fund Manager of Cat-III AIF, 129 Wealth Fund. Investments in the securities market are subject to market risks. Read all related documents carefully before investing

8/9 🎯 Detailed Outlook: Follow the management interaction video to know more about the company, their aspiration in expansion of international markets, higher-margin larger projects, & how the IPO fund can build a growth foundation. youtu.be/nTciTUvVTC8

1/9 Interacted with the management of SME IPO–bound Exato Technologies, a company backed by veteran investor Mr. Vijay Kedia. 📅 IPO Opens: 28th Nov – 2nd Dec A thread on key insights about the company, along with the full interview link.