The Financial Services, Energy, IT, and Consumer Goods sectors remain the leaders, while smaller sectors like Pharma and Media continue to lag the broader market. Our chart of the week is sticking with that theme by looking at the Nifty Metals and Nifty Infrastructure indexes, which collectively represent roughly 9% of the Nifty 500. Although these sectors have been consolidating near all-time highs for most of this year, recent developments suggest they may be vulnerable to further downside.
I’m Coming To Mumbai This Week
This is such a treat for me. I get to go to India to talk about Technical Analysis with hundreds of really smart and eager to learn investors from all over the country. The biggest investor conference of the year starts on May 24th and I will be the first presentation of the event. The 7th annual Traders Carnival will be Asia’s largest 3 day residential conference and I could not be more excited to participate.
I was lucky enough to visit India for the first time this January. I was blown away by the experience. We had about 200 people at an event at Bloomberg in Mumbai where I was the keynote speaker. The enthusiasm for Technical Analysis was amazing. I’ve never seen anything like it. [Read more…]
[Chart of the Week] Why We Love Big Bases
As Technicians we like to use the phrase “the bigger the base, the higher in space” when talking about breakouts from consolidations. Long periods of indecisive price action build a lot of potential energy that is then released once a stock breaks out of its range. This applies to any asset class on any timeframe because the psychology behind the pattern is exactly the same. We’ve written about bases before and they’re common in our work, so click here if you’re interested in learning more about this pattern. [Read more…]
[Premium] Smallcap Base Breakouts To Watch For
As Technicians we like to use the phrase “the bigger the base, the higher in space” when talking about breakouts from consolidations. Long periods of indecisive price action build a lot of potential energy that is then released once a stock breaks out of its range. This applies to any asset class on any timeframe because the psychology behind the pattern is exactly the same. The weight of the evidence continues to suggest we want to be long equities, so I’ve taken a look through the Nifty Smallcap 250 and identified some of the best bases that are either breaking out or look poised to over the intermediate-term. [Read more…]
[Premium] Midcap Base Breakouts To Watch For
As Technicians we like to use the phrase “the bigger the base, the higher in space” when talking about breakouts from consolidations. Long periods of indecisive price action build a lot of potential energy that is then released once a stock breaks out of its range. This applies to any asset class on any timeframe because the psychology behind the pattern is exactly the same. The weight of the evidence continues to suggest we want to be long equities, so I’ve taken a look through the Nifty Midcap 150 and identified some of the best bases that are either breaking out or look poised to over the intermediate-term. [Read more…]
[India Chart Of The Week] Not All Financial Services Stocks Are Created Equal
The Indian Financial Services sector is broken down into three formal sector indices: The Nifty Financial Services index, the Nifty Bank index, and the Nifty Public Sector (PSU) Bank index. Both the Nifty Financial Services and Nifty Bank index have been showing great leadership, sitting just off their all-time highs on both an absolute and relative basis, however, the Nifty Public Sector Bank index has not participated to the same extent. [Read more…]
[Premium] A Deep Dive Into Financial Services Stocks
I think our messaging has been clear that we want to be buying equities, and buying those showing relative strength. The Nifty Financial Services index and the Nifty Bank index are sitting just off all-time highs relative to the Nifty 500, so I’ve done a deep dive into them to highlight the best large, mid, and small cap names on the long side. I’ve also included some names from the Nifty Public Sector (PSU) Bank index, but would note that it’s hitting 2-year lows relative to the Nifty 500 and therefore has a much smaller representation on this list despite being part of the Financial Services sector as a whole. [Read more…]
[Premium] Nifty 50 Stocks To Buy in May
In my last post I outlined the evidence from India and around the globe that suggests equities as an asset class are headed higher. I pointed out the failed head and shoulders topping patterns in the Nifty 50 and other indices that should fuel the move higher. With that being said, I wanted to outline the Nifty 50 stocks where I believe the risk is defined best and the reward/risk is still favorable. [Read more…]
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