Infy which has been the flag bearer of IT sector has reached oversold levels on weekly where it has formed major bottoms.
Nifty IT as oversold on weekly as it was when it made major bottoms in Oct 2008, Aug 2011, Nov 2016 & Mar 2020.
More from Sandeep Kulkarni
Infosys PEG ratio (1-year fwd PE/EPS growth) down to 1.4x from a peak of 2.7x as PE cut by 27% & EPS growth cut by 5% - trades at 23.3x PE for 11% FY23 growth. If this is a mid-cycle correction, its done BUT if this is the great valuation reset - more fall coming
— ThirdSide (@_ThirdSide_) May 25, 2022
Place your bets pic.twitter.com/9ZlaLDcxPZ
BTW Nifty Metal has inverse correlation with USDINR. https://t.co/X6cqVcYF3V
We know how our stock market has weathered the FII selling.
— Sandeep Kulkarni (@moneyworks4u_fa) June 10, 2022
But the equally big story is how Rupee has weathered $50bn+ outflows since Oct 2021. Hats off to RBI Governor Das & his team for having the vision of building huge reserves in his tenure. pic.twitter.com/CVuF9dM361
This is Nifty's chart from 2004 to 2006. Back then also US interest rates had gone up. Markets had corrected well before Fed had hiked rates for first time in 2004, from then it hiked rates 17 times by 4.25% over next 2 yrs and yet market kept making new highs. @shivaji_1983 pic.twitter.com/EAFhske9EE
— Sandeep Kulkarni (@moneyworks4u_fa) February 11, 2022
More from Infylongterm
Infosys PEG ratio (1-year fwd PE/EPS growth) down to 1.4x from a peak of 2.7x as PE cut by 27% & EPS growth cut by 5% - trades at 23.3x PE for 11% FY23 growth. If this is a mid-cycle correction, its done BUT if this is the great valuation reset - more fall coming
— ThirdSide (@_ThirdSide_) May 25, 2022
Place your bets pic.twitter.com/9ZlaLDcxPZ
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(I am forced to do this due to continuous hounding of Sikh Extremists since yesterday)
Rani Jindan Kaur, wife of Maharaja Ranjit Singh had illegitimate relations with Lal Singh (PM of Ranjit Singh). Along with Lal Singh, she attacked Jammu, burnt - https://t.co/EfjAq59AyI
Tomorrow again same thing happens bcoz fudus like you are creating a narrative oh Khalistan. when farmers are asking MSP. (RSS ki tatti khane wale Kerni sena ke kutte).
— Ancient Economist (@_stock_tips) December 5, 2020
U kill sikhs in 1984 just politics. To BC low IQ fudu Saale entire history was politics.
Hindu villages of Jasrota, caused rebellion in Jammu, attacked Kishtwar.
Ancestors of Raja Ranjit Singh, The Sansi Tribe used to give daughters as concubines to Jahangir.
The Ludhiana Political Agency (Later NW Fronties Prov) was formed by less than 4000 British soldiers who advanced from Delhi and reached Ludhiana, receiving submissions of all sikh chiefs along the way. The submission of the troops of Raja of Lahore (Ranjit Singh) at Ambala.
Dabistan a contemporary book on Sikh History tells us that Guru Hargobind broke Naina devi Idol Same source describes Guru Hargobind serving a eunuch
YarKhan. (ref was proudly shared by a sikh on twitter)
Gobind Singh followed Bahadur Shah to Deccan to fight for him.
In Zafarnama, Guru Gobind Singh states that the reason he was in conflict with the Hill Rajas was that while they were worshiping idols, while he was an idol-breaker.
And idiot Hindus place him along Maharana, Prithviraj and Shivaji as saviours of Dharma.