CNXPSE trade ideas
CNX PSECNX PSE IN WEEKLY CHART. It seems wave 3 has unfolded and this move could propel it move to 3306 and finally to 4027.
Being under owned and most hated sector for value destruction ,it seems a change of guard is there.
CNXPSE: Gearing Up for A Big Take OffWith the big mind set change of the Government towards PSUs over the last 1 year (stopping of CPSE offers, announcing Privatization of BPCL and CONCOR Last Year) and now a clear vision being communicated in the Budget...CNX PSE Index is gearing up for a big take off...if we go by the charts if the breakout sustains above 3100 then we are talking above a move towards 4500 or a 50% move from Current Levels....you can choose your stocks which you want to play...but clearly a sector which should not be ignored going forward...obviously a lot needs to be achieved by the Government in terms of actual delivery of what they are promising for such targets to be achieved
PSE Index view : Mid term Bullish.PSE Index is being formed on Daily Chart a Rounding Bottom, It indicates price reversal to last resistance trend line...
So, It is in flavor in upcoming days...
NIFTY PSE laggards likely to work?NIFTY PSE were all under performer during the current rally. Are they likely to perform now. Charts formation is good. Study the Chart carefully
Nifty PSE is performing betterNifty PSE is performing better, many breakouts are seen in individual shares
NIFTY PSE: in REVERSAL MoodIf NIFTY PSE Index Moves towards Midian -> Upper Band of parallel channel,
Who Tooks Initiatives? Think Heavy Weights.
Top constituents by weightage (Name(WEITAGE%)
NTPC'(13.23%), ONGC'(11.83%), POWERGRID'(11.12%), COALINDIA'(9.11%), IOC'(8.82%)......
Some Fundamentals: P/E => 10.94, P/B => 1.48, Div Yld => 4.32,
Correlation (NIFTY 50): 0.69(1 Year),
Std. Deviation(Average daily standard deviation annualized): 14.82 Near All Time LOW
(Compare to: #1 Since Inception It is 26.62  5 Year Avg. 18.71)
Returns (%): QTD => -8.87%, YTD => -18%
All Data Based on as per June 29, 2018 data realeased by NSE.
Can Accumulate for a SHORT Term Gain.
Due details plotted on Chart.
Education Purpose only.
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