22 August 2013
INDY - iShares S&P India Nifty 50 Index ETF
Started to accumulate stock index ETF - INDY (iShares S&P India Nifty 50 Index ETF) at US$18.87 per unit on 21 Aug 2013.
Reasons
PE at 13, neither cheap nor expensive; Price NAV ratio at 0.59, cheap; 5-year high at 33, paid price 18.87 is cheap at 57% of it;
a clear 5 downward waves structure is almost complete, which is bearish itself. But this is also implied that a significant technical rebound is likely to happen as per Elliott Wave Theory;
Daily chart RSI 14 is very close to 20, oversold;
MACD is also oversold close to or below 1 year, 2 years and 5 years low.
I'm almost in cash position, it is time to begin to accumulate by probing buy for expected technical rebound.
Basic Information on INDY - iShares S&P India Nifty 50 Index ETF
Top 10 Holdings (59.01% of Total Assets)
Company Symbol % Assets
I T C LTD ITC.BO 10.22
Reliance Industries Ltd. RELIANCE.B 7.80
INFOSYS LTD.-ORDINARY INFY.BO 7.79
HOUSING DEVELOPMENT FINANCE CO HDFC.BO 6.81
HDFC Bank Ltd HDFCBANK.B 6.17
ICICI Bank Ltd ICICIBANK. 5.76
TCS LTD TCS.BO 5.05
Larsen & Toubro Limited LT.BO 3.78
Tata Motors Ltd TATAMTRDVR 2.83
ONG CORP LTD ONGC.BO 2.80
Ratio
Average Price/Earnings 12.94
Average Price/Book 2.01
Average Price/Sales 1.33
Average Price/Cash flow 8.66
Reasons
PE at 13, neither cheap nor expensive; Price NAV ratio at 0.59, cheap; 5-year high at 33, paid price 18.87 is cheap at 57% of it;
a clear 5 downward waves structure is almost complete, which is bearish itself. But this is also implied that a significant technical rebound is likely to happen as per Elliott Wave Theory;
Daily chart RSI 14 is very close to 20, oversold;
MACD is also oversold close to or below 1 year, 2 years and 5 years low.
I'm almost in cash position, it is time to begin to accumulate by probing buy for expected technical rebound.
Basic Information on INDY - iShares S&P India Nifty 50 Index ETF
Top 10 Holdings (59.01% of Total Assets)
Company Symbol % Assets
I T C LTD ITC.BO 10.22
Reliance Industries Ltd. RELIANCE.B 7.80
INFOSYS LTD.-ORDINARY INFY.BO 7.79
HOUSING DEVELOPMENT FINANCE CO HDFC.BO 6.81
HDFC Bank Ltd HDFCBANK.B 6.17
ICICI Bank Ltd ICICIBANK. 5.76
TCS LTD TCS.BO 5.05
Larsen & Toubro Limited LT.BO 3.78
Tata Motors Ltd TATAMTRDVR 2.83
ONG CORP LTD ONGC.BO 2.80
Ratio
Average Price/Earnings 12.94
Average Price/Book 2.01
Average Price/Sales 1.33
Average Price/Cash flow 8.66
Labels: Elliot Wave Analysis, ETF, Live Trading Records, Thoughts
