With the recent rally in China, the overall strength in India should not be forgotten. The sexy China and Brazil analysis often upstages India on the BRIC/emerging market front. However, the updated weekly chart of the Bombay Sensex below indicates a continued massive cup and handle setup. Just as important is the clear outperformance to the U.S. markets since September.
Consider HDB as one way to play the strength in India.
5 Responses to Don’t Forget India on the Emerging Market Train
Funny you mention India earlier saw their biggest car marker Tata Motors $TTM flash a golden cross signal today.
Although there are a number of Indian stocks that are very familiar to the US, like RDY, Dr. Reddy’s Lab, my preference is the ETFs. IFN and EPI are the ones I own, both have performed similarly recently.
Chess, not really a techie guy, but shouldnt the cup be a little smoother, alomost saucer like, for the cup and handle?
Comment would be appreciated
Yes, fair point. Not a textbook cup & handle. I suppose the larger point is that India has performed very well since the summer and especially has consolidated well since late-2010 under all-time highs.
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