We are almost done with the first quarter of the calendar year and the last quarter of our financial year. There are certain sectors that are peeping out from beneath the surface and hence attracting attention. Is this a theme we may see play out in the quarter going forward? Most likely. Most sectors have remained sideways or subdued in their move and they are finally picking a side!
Today we are here to discuss one such sector and some interesting setups that one could take advantage of.
Let’s see what’s on the roster sheet today.
We mentioned this in the recently concluded conference call, and we’ll say it again- Bouncebacks are here! From within the price bouncebacks that we’re seeing certain sectors are displaying more strength. One such sector is the Industrials. We’re talking about the Industrial Manufacturing sector, so don’t go looking for the US sector XLI.
BUT, if you did, you wouldn’t be entirely wrong. The Industrials sector (XLI) in the US is picking up pace as we speak. So this is one of those times where you see similar themes play out across different geographies. Fun when that happens, isn’t it? Reiterates the understanding we have of the market.
So Industrials in India have picked up pace as well. The case remains the same as we witnessed relative strength in our industrials index against the Nifty 500. It has 38 constituents from the industrial manufacturing sector of Nifty 500.
Now, let’s look at some actionable ideas at current levels that look attractive on the long side for the next few weeks and months.
To access our team’s Technical Analysis, you must be a premium member of All Star Charts India. Please login below or start your risk-free 30 day trial today.
Lost Password?