Not just cricket, even the stock market index in India has a date with Twenty.
Sensex scales the 20 thousand mark yet again.
The previous time it covered this handle, it was with tremendous momentum and large divergences. This time around, the move up has been by and large a slow grind and seemingly sustained. And no divergence in key momentum indicators except in the dailies. But beware the ides of September. If i had my trading portfolio, i would be looking to book profit and square up. No one died taking profits.
The previous time it covered this handle, it was with tremendous momentum and large divergences. This time around, the move up has been by and large a slow grind and seemingly sustained. And no divergence in key momentum indicators except in the dailies. But beware the ides of September. If i had my trading portfolio, i would be looking to book profit and square up. No one died taking profits.
Valuation-wise, one-year forward PE at around 21 for the Sensex is way ahead of the rest of the investment destinations and any investment decision, therefore, needs to be tempered with caution.
2 comments:
Well written Guru. Been following your posts with interest - good job. Keep it up.
agree on sensex, although i would expect a new high - do write on rupee more frequently
Agree Sir. Currently i don't have access to real-time prices for rupee - will try to get some data and do soon. Thanks for kind words - Guru
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