PSU Banks are generally slow to catch up on a bullish trend. But speed is not what we're after. We're trying to lock into accuracy. So we wait patiently until the alarm bells go off and then we look into PSUs.
Well, its that time again! We have some stocks here that are displaying strength and some that are just breaking out. Let's take a look at this list, shall we?
Let's start off with an index view, just to see where we're at in the trend.
Guess what we have at an index level when it comes to the PSU Banks? 2-year highs, folks! PSUs had been struggling to sustain above the crucial level of 2,700. As you can see, the price movement in the recent past has been full of whipsaws. We finally have new highs coming off of those whipsaws as well.
With the price gaining momentum, we're looking out for targets close to 3,445 and 3,730.
The stock we're looking at this week is part of the Industrial Manufacturing sector. Let's examine which name has made it to our scan this time. Also, check out our latest post on Industrial Manufacturing stocks paving the way for the next leg of the rally!
We retired our "Five Bull Market Barometers" in 2020 to make room for a new weekly post that's focused on the three most important charts for the week ahead.
This is that post, so let's jump into this week's edition.
The Industrial sector has been on our radar throughout this year. The Nifty 500 peaked in October 2021, whereas stocks from the industrial sector continued to show resilience. Our outperformers scan list is full of industrial stocks.
Our Custom ASC Industrial Index is making a new all-time high on an absolute and a relative basis. We are looking for opportunities to add based on price breaking above the consolidating or options to add within an ongoing bullish uptrend. Finally, we'll look into potential multi-year breakouts.
In this post, we'll update the trade ideas from the last post and add a few new actionable setups that look attractive on the long side for the next few weeks and months.
The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
We retired our "Five Bull Market Barometers" in 2020 to make room for a new weekly post that's focused on the three most important charts for the week ahead.
This is that post, so let's jump into this week's edition.
We debuted a new scan recently which goes by the name- All Star Momentum.
All Star Momentum is a brand new scan that guides us towards the very best stocks in the market. We have incorporated our stock universe of Nifty 500 as the base this time around. Among the 500 stocks that we follow, this scan will pump out names that are most likely to outperform the market.
The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
Commodities are showing up on the green side of the screen these days as we witness a recovery. One of the commodities that have displayed strength time and again is Natural Gas. The price is currently trading at an all-time high and we're here to revisit those crucial levels.
Last night we held our August Mid-month Conference Call. This is when we discuss our tactical view of the market and look for any signs of change in the short-term trend.
Let's go through some of the most important charts to track as this month progresses.
