E-Commerce - Still BearishRe-publishing chart after updating zomato as eternal ltd. After double top formation, e-commerce still looking bearish. So far HH-HL formation not formed even in daily chart. Trendline hasn't broken out. Technical indicators are weak with no momentum. 12431 would be pivot point.
Ecommerce
E-Commerce Sector Reversal2.92Y ATH breakout. Few weeks tight consolidation by taking 38.2% Fib level support. E-Commerce stocks looking great to increase allocation. Custom index atleast have 10-12% potential
E-Commerce Sector breakoutAmong E-Commerce sector, Zomato, Infoedge(Naukri), FSN(Nykaa), One97(paytm), Indiamart, Easytrip, Justdial are the top 7 companies by M.Cap.
Created custom index among 7 and shows clear breakout in weekly chart & RSI
Among them Infoedge is profitable in 5Y period with good technical chart but high valuations