Breakouts LargeCaps –Bharti AIrtel, BPCL , Hindustan Unilever, ITC. Sectors on Radar & more Insights.

1) Bharti Airtel

Steady uptrend.

A classical Bullish Flag Formation.

All time highs at 1520-1536 band.

2) BPCL

Did a retest of the breakout zone of 280.

New range at 280-350

Breakout into all time highs.

Ex dividend recently.

Oil and Gas Sector showing leadership.

3) Hindustan Unilever

Was the first one to hit new 52 week highs in 2020.

Major underperformer.

Multiple tops at 2750 in last 2 years.

2021 and all time highs around the 2800-2850 mark.

4) ITC Limited

Consolidation after that huge rally.

Previous top at 500-510 acting as a resistance.

Pause and consolidation around resistance.

Disclosure – The Author has positions in some of the stocks and is biased. Please read the disclosures - https://nooreshtech.co.in/disclosures 

Sectoral Radar

From our previous post – The Rotational Bull Market - https://nooreshtech.co.in/2024/08/the-rotational-bull-market-sunday-thoughts.html 

Some Sectors/Themes which have come up on our Screens.

Disclosure – Biased and Invested in some of them.

Relative Strength & Outperformance.  ( All continuing strength)

1) Agri and AgroChemicals

2) Textiles

3) Oil and Gas

4) Logistics

5) Insurance

5) Pharma  ( Smaller names breaking out )

Hated but on Radar.

1) Large Cap Banks  ( Still on watch )

2) Diagnostics  ( Breaking out )

3) Media     ( first hints of price action )

Interesting Charts – Not Actionable but gives insights

1) BankNifty – Interestingly placed

#BankNifty - Interestingly placed. #Banks and #Financials have been 25-40% of #Nifty50. Outperformer from 2009 to 2020. Further underperformance will take the Ratio back to 2020/2016/2014. Our Last Report on Banks - July 22 - https://t.co/wZqKae4Sk7 

For now its a little too early but one can actually look at accumulating the sector allocation if one has a large cap bias.

2) Crude – At a major support

Tough to call a breakdown or a rally from here.

But a break below 73-75 and 85-88 will decide the next trend.

For now looks like range bound moves to continue. 

3) Smallcaps making a comeback globally

An interesting chart from all star charts website

Performance Update

3 years with @smallcaseHQ ! Our Top 10 Techno Funda Smallcase ranks among the top, delivering the highest 3-year CAGR returns in Technicals, and the second highest in Fundamentals and Momentum!

Visit https://nooreshtech.smallcase.com to know more