@Mehnazfatima
I don’t know anything about technical analysis. But I have analyzed few banks based on fundamental analysis.
I find karur vysya bank, federal bank, south indian bank, Karnataka bank as interesting bets.
I have even started a thread on kvb Karur Vysya Bank
Can you please share your technical analysis observation on the banks I mentioned.
Mehnazfatima
As per your TA is NIFTY PE is high? what’s your inference?
I am really scared in this market. Even real estate stocks have doubled since November. Some even hitting upper circuit. I am wondering what has changed so fast?. Is this the time to completely get out of the market and move to cash?
I request senior guys like @hitesh2710 to share their view.
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The number of stocks hitting 52 weeks high is huge and of course, a small number of stocks hitting 52 week lows.
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Similar trend can be observed in the number of stocks going up by more than 5% in a day. And very few stocks that are going down by more than 5%
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Buy recommendation in ET, other newspapers and news channels have also gone up in the past 2 weeks.
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Finally, I am able to see a spurt of activity even on our forum. All signs of a bubble forming now
I am started pruning my portfolio gradually.
I am started pruning my portfolio gradually..
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Its really scary at this point of time.
Every day market is getting on to the new high, mostly funded by the MF euphoria by all time high inflow.
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Hi @Mehnazfatima, I was reading some old threads and saw your msg in context of what happened in PNB. Of course, hind sight is 20:20 but this was the time it was unfolding and some of my ibanker friends told me that people made good money shorting PNB.
I don’t understand technical and don’t plan to learn but just curious, did you see any early signs in other PSU bank space?
Have a look at simple heiken aashi chart of PNB…its very apparent that the stock was already being sold off / in downtrend even before the Nirav Modi scam came out…
Those who were strictly going by the technical would have exited much earlier. of course in the market, to investors like us, the real reason for the weakness will be known only much later. …Insofar as shorting is concerned, technically, the best point to initiate short position in PNB was on 29 jan 2018 @ 174 levels…I think those who shorted then would have made very good money. Same goes for charts of other banks too.
On a personal note, since I was not invested in banks, I was not watching the charts of PNB…
secondly, those already invested in PNB would do well to note that, its forming some sort of bottom now…I think its still in downtrend BUT most of the price damage is behind it…no point selling it now.
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