PSUs have been a laggard for the last many many years and some for decades.
Before I start this post. Disclosure – We have recommended a PSU Basket in Technical Traders Club buy in November and already booked a few and hold a few. It was one good 30% trade in a few names.Continue to be very positive in the long run and the view is bottoms made in Sept/October could be history. So there is a bias.
I did a poll on Twitter in the Index around 21st October
Poll 1 Results.
A good fight betwee forget it baba and Big Bounce.
Poll 2 Results
Votes increase and so the conviction in the bounce. But not a consensus.
Contra Bets are difficult. We did a video on Metal Sector as well as a Post . The sector did well but was difficult to participate fully.
Now looking at the charts of some PSUs which are showing possibility of a Multi-Year Trend Change.
BHEL – A long term trend change on cards. Stops at 30 and massive upside for a long term bet. ( Better than buying penny stocks ?)
Will it be just another pop like in 2010/2014 or a bigger move in the long run. Disclosure – Biased.
BPCL – A compressed Spring. Needs a trigger. Crossing 410-430 would mean a long term breakout and all time highs.
PoweGrid – A solid business but a flat chart for years. Finally sustaining above pre covid. ( add div). Time for a slow and steady trend change.
Bharat Electronics – A 2 year breakout on cards above 120-125. Was the best performing PSU in 2003-2007. A solid business.
The above 4 stocks look interesting for a long term time frame and stops could be deep. So please do your own research and risk management.
Analyse India – Insider Trading Report
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Why to look at insider trading ?
Read the Post.
https://nooreshtech.co.in/2020/04/insider-buying-a-good-way-to-hunt-for-companies-to-research.html
Youtube Video.
https://www.youtube.com/watch?v=bt5wtR4AJuA&ab_channel=NooreshMerani
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