Going through our universe of coverage I noticed weakness in the Rupee over the last week, so this post is going to help put that into the perspective of the longer-term trend and outline how we’re approaching it.
About ten days ago we outlined why it appeared Indian Equities were due for a pause from a tactical perspective and that’s what we’re getting.
With no movement in the major averages, there’s nothing to do, right?
In this post, I outline a few of the stocks we’re watching and why they’re important.
Thursday we looked at two lagging sectors that have been developing signs of a potential bottom like we saw in Energy, Autos, and others several months ago.
Today I want to follow up on that post by diving into the Nifty PSU Bank Index components to see if what we’re seeing there supports the action that’s occurring in the equally-weighted index.
In September we saw a massive spike in the number of new 63-day highs in the Nifty 500’s components.
Today I want to take a look at look at the data and answer the questions how rare is this signal? and what are the forward returns?
The Nifty Public Sector Bank and Media sectors of the market have been laggards for a while, but we’re now beginning to see signs that rotation into these areas is ahead. [Read more…]
Stocks around the globe have been making new highs as of late, rallying over the past several weeks and months.
Will it continue or are we due for some consolidation first?
Let’s take a look.
This is the recording from the live September 2019 Conference Call for Members of the Allstarcharts India! Before getting into individual stock ideas in India, we’re going to first start with the global macro perspective. Once we identify the direction of the underlying trends from a structural and broader view, then we’ll dive into the NIFTY Indexes on both longer-term and short-term timeframe. We want to look at Large-caps, Small-caps and everything in between before getting into the Sector and Industries themselves like Energy, Banks and Pharma.
This is when we finally break things down to the individual stock scenario with identified risk vs reward opportunities. That is what this is all about – aligning ourselves in the direction of the underlying trend while at the same time identifying where the risk is to make sure the potential reward is skewed exponentially in our favor. You will find that throughout this process we discuss Momentum, Fibonacci and Relative Strength. I encourage you to check out the Education Section so you know exactly where I’m coming from when you hear me mention these tools.
Here is the video in full:
The trend for NIFTY stocks is up. That has not changed. Like many stocks and indexes around the world, NIFTY been mostly stagnant since early 2018. Unlike most stocks and indexes, however, NIFTY has managed to put in higher lows and higher highs along the way. So it’s not just a consolidation.
I do believe NIFTY resolves this consolidation higher and heads up towards 13,000 – this is the target: [Read more…]