Bank Nifty (BN) has so far not participated in Bullish rally that we have seen in other indices.
Last week BN has given convincing Breakout of Feb'21 ATH.
Breakout has happened after 4 weeks of tight consolidation which is a bullish sigh
To take advantage of BN breakout one can buy NIPPON INDIA BANKBEES at CMP 396 and buy at ever dips
Nifty Auto is showing Bullish Hidden RSI divergence on weekly chart
MCAD set for turning +ve
ADX (+DMI) set to show strength by crossing 25 levels
Instead of chasing individual stocks, one may invest in UTI Transportation & Logistics Fund Regular Plan Growth which holds top quality names in Auto and Auto Ancillary space
+ Zero debt company (Debt to equity 0.02)
+ Debt reduced from 79 Cr to 8 CR
+ MarCap to sales 0.57
+ Low Price to book value and PEG
+ PE 12.3 < Industry PE 22.2
+ Good early '21 and Quarterly results March'21
+ ROCE increased from 5% to 18%
+ FIIs increasing holding
- Micro cap 700 CR company
+ Breakout of 2019 price
+ HH-HL structure on...