Weekend Observations 03rd Sep 2023

RTI For Money, Lillaney

9/3/20231 min read

Top Gainer this week has been Railtel Corp which gave a return of 45.31%. Stock looks very good on the charts with it being near its high and the volumes being good as well. Fundamentally the EPS was good in the last 2 quarters and the P/E ratio is a bit high. Buy on dips?

New 52 week high - 111 vs 35 last week

New 52 week low - 0 vs 2 last week

Near 52 week high - 238 vs 275 last week

Near 52 week low - 26 vs 30 last week

If we see the above list it shows that more stocks are hitting or near their 52 week highs than lows which means there are a lot of large and midcap stocks making money for those who have invested in them. Do you own any of the stocks hitting new highs? Or does your list contain the laggards?

Even if you had invested in Sensex/Nifty companies the return has been above 4% since the end of June 2023 which is a pretty good return in less than 3 months.

The focus should be on stocks hitting new highs and buying them during corrections.

What are your weekend observations?