Just to pen down some thoughts at the current juncture in the markets and some stocks I find attractive (though these should not be considered as recommendations)
The present market seems to be a momentum driven markets where if u spot a good company either through fundamentals or on charts or a combinations of both, in next few days its off to a rally. Its often scary to see stocks soaring so fast and so high.
But on the other end there is a sort of apathy towards some companies which are seen and which have proven to be steady compounders. Among these latter group of companies some of the companies I like are PNB Housing which has been growing at a decent growth rate since past many years. Even if the growth were to turn tepid from historical rates, it would still grow at a healthy rate. The best thing about the company is the predictability of growth for the company. Hence one can allocate a decent amount of money to the stock in the PF. Stock has corrected from levels of 1700 plus to around 1300 plus and remains in a range of 1300-1350. I have entered the stock with a medium term view. The key monitorable remains the asset quality as the company has LAP to the tune of 30% of its total loan book.
Technically PNB HF seems to be getting supported around 1300 levels. On daily charts there are some positive divergences where the past three bottom were lower than each other and still RSI managed to post a higher bottom each time. Lets see how it pans out.