There's a positive catalyst on the horizon for India's stock market, says Katie Stockton

After the 2020 corrective low in global equities, India was one the few countries that was able to keep up with the U.S. through the end of 2024. However, Indian equities have lagged the U.S. badly this year with a YTD return of only 3.44% for the iShares MSCI India ETF (INDA) . While 2025 has been an off-cycle year for India's stock market, a new technical catalyst is on the horizon that bodes well for a strong finish to the year, in both absolute and relative terms. INDA has been in a corrective phase for over a year, reflecting weak long-term momentum. The corrective phase has taken the shape of a triangle pattern, with converging highs and lows on the chart. We always pay attention when triangles form because we find that triangle breakouts often see strong upside follow-through. To st