Technical Analysis of Indian Equities by Nooresh

Five Interesting Charts for the Sunday

Nifty Total Market Index  The Top 750 Companies of India. Generally its 90-95% of Indias Market Cap. If you look at this chart it clearly shows its waiting for a Positive Trigger to Breakout. Knocking at the Resistance and waiting.

Burger King, Barbeque Nation… Burger ho, barbeque ya pizza all did well this quarter. Structural shift ya one quarter ?

Revenue growth in Double Digits. Same Store Sales Growth after many quarters.

Can some of this growth be Structural ?

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A Structural Change in Indian Textiles !!

1) Cotton supply is becoming tighter

2) India’s spinning industry has become structurally tighter

3) China is surprisingly the biggest near-term demand driver

4) Yarn spreads are improving

5) Margins have structurally bottomed

6) Capacity utilisation is already very high

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