Tuesday’s Mystery Chart received a lot of responses, with most of you were erring on the long side.
Now, let’s look at the chart and its related theme.
Here’s SBI Life Insurance Company Ltd. attempting to break out above its post-IPO base while the more traditional “banking stocks” are being hit hard. Sure the price action is a bit choppy, but it’s not going down like many other stocks in the sector and market.
Click on chart to enlarge view.
The reason this chart stood out to us is that the relative strength is obvious and suggests that these stocks will lead to the upside once the market gains its footing. As long as prices are above their recent lows of 732, the bias is to the upside towards 952.Lost Password?