Independent research desk
My own notes on markets, published as a personal record. Conclusions only — never the process, the positions, or a recommendation.
Personal views · Not investment advice · Not SEBI registered
How this site works
01
A note states what the work concluded and the argument for it. Process, data sources and positions are never published — a standing policy, not an oversight.
02
Every note carries its date. Factual errors are corrected in place with the correction marked; views that turned out wrong stay up unamended.
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No sponsorship, no commissioned coverage, no mandates, and no outside editing. Notes are written on the author’s own initiative.
04
No price targets, no buy, sell or hold calls, no model portfolios. Commentary only. See Disclosures for the full regulatory position.
Coverage
Market structure · Liquidity
Where depth is real and where it is only advertised, and how execution conditions change under stress.
Digital assets · Settlement
Public networks and the venues built on them, treated with the same scepticism as any other market.
Positioning · Flows
Who is holding what, and what that implies about how vulnerable a market is — not what it will do next.
Full scope, and what is deliberately not covered, on the Coverage page.