During last week's Members-Only Conference Call we discussed a lot of themes, including some potential improvements in the price action of Gold and other metals. However, in this quick post I want to highlight some opportunities that may potentially emerge in the Base Metal space over the next few weeks and months.
This week's "Chart of The Week" is exploring the potential 20% upside in Tata Motors, however, I want to use this post to explore the rest of the Automobile Sector for potential opportunities.
Over the last two weeks we've discussed small-caps, mid-caps, and the chartbook updates in depth, though we've not had a post dedicated to large-caps in quite a few months. Many of our upside price targets have been hit in Nifty 50 and Nifty Next 50 names, so I want to use this post to provide perspective on the most actionable long and short ideas today.
In our last India Chartbook Update post we discussed a continuation of the trends we've been seeing for most of 2018, as well as some new developments in the Commodities and Currencies space. Additionally, our mid-cap update discussed our shifting view of that market-cap segment and highlighted the best opportunities in our view. We also did a small-cap update post the following day highlighting our views there. Today we're going to discuss any major changes over the last two weeks at a high level, which will direct you to the Chartbook areas to look for these themes.
During our August Members-Only Conference Call we discussed a lot of the big-picture trends from around the world and in India, but we wanted to do a long post discussing what we're seeing in the small-cap space. In this post I'll cover what we're seeing in the index itself, as well as get into some of its most actionable components.
During our August Members-Only Conference Call we discussed a lot of the big-picture trends from around the world and in India, but we wanted to do a long post discussing what we're seeing in the mid-cap space. In this post I'll cover what we're seeing in the index itself, as well as get into some of its most actionable components.
This weekend all of the Chartbooks on the site were updated, so this is a quick post to highlight some of the significant developments since they were last updated. In our last update summary we discussed the fresh breakouts in Financial Services, Consumer Goods, and IT, as well as the continued strength in large-caps relative to mid and small-caps. Today we're going to check in on those themes and also highlight some new ones.
This entire year we've been talking about under-performance in the mid-cap and small-cap segments of the market. To take advantage of that we've wanted to be shorting, or at least avoiding longs in, the weakest names in sectors like Public Sector Banks, Infrastructure, Metals, Media, Realty, etc. Last month many of our downside price targets were hit from a tactical perspective and we took a more neutral approach, waiting for better entries on the short side. Now that we've seen a multi-week bounce off the lows in the mid and small-cap indexes, we're going to revisit the space for the best reward/risk setups on the short side.
We're witnessing yet another breakout attempt in the commodities market, and this time it's Cotton. This post is going to take a look at the setup, how it may develop, and how we can take advantage of it.
It's the end of the month, which means we've got new monthly charts. Last month we discussed the strength in large-cap Financial Services, Consumer Goods, IT, and in certain areas of Pharma, while the weakest areas were mid and small-cap Infrastructure, Metals, Commodities, Realty, Media, and Autos. This post is going to discuss any significant changes from last month, but members can find the rest of the updated charts in the Chartbook.
The strength in large-caps continues, as shown by the Nifty 50 making a new all-time closing high. This month's candle opened at the lows and closed at the highs, signaling a continuation of its uptrend after 6 months of consolidation. If prices are above 11,165 we want to be long as our next price objective us up near 15,260.