The CPSE ETF is made up of equity investments in 12 of India’s largest public sector companies. Owned 55% or more by the Government of India and listed on the NSE.
It is an Index fund. CPSE ETF Full form is Central Public Sector Enterprises. It's an Exchange, Traded Fund.
The government of India wanted to divest some of its holdings in CPSE and decided to divest...
WEDGE Formation after 14 weeks of constant Upmove (since Mar 23 bottom).
Reliance the Flag bearer of the rally, has no more new news flow coming ( thats what I presume). Though it could find a bottom at 1900 and move to 2350.
As expected, Nifty came down from the top of 11856 (which was above 29 PE - very very high) and is now at a support level. If anybody wants to buy Niftybees (Reliance ETF Nifty BeES) for long term investment then they can buy with 20%-25% of their capital now.
Uranium prices seems to have contracted and could soon provide a good and strong break out. The possibility of an upside break seems higher.
However, one must remember how this commodity has disappointed investors on several occasions in the past.