Nifty Industrial Manufacturing has been performing well and has caught our attention over the past two weeks. We selected Cummins India and Siemens Ltd. in our Trade of the Week before. But it seems like the other constituents are catching up as well.
We thought we could look at actionable ideas in this sector as several stocks are breaking out of big bases.
We created an Equally weighted custom index of the Industrial Manufacturing sector and this line chart reflects exactly what we’re seeing in the individual constituents. A breakout in this index is suggesting further upside as an increasing number of stocks participate in the rally going forward.
Click on chart to enlarge view.
Now let’s take a look at some actionable ideas at current levels that look attractive on the long side for the next few weeks and months.
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