“If I look back at the last 10 years on our seasonality tool on strike, we end up seeing that seven out of 10 years are negative. And that gives you a 70% probability of a downside for the upcoming month, given the overbought readings that we have right now on key indices.”
IndusInd Bank’s daily trend is bullish to sideways. The RSI for daily is showing sideways momentum, however, the RSI for monthly and weekly are showing bullish momentum. Based on option chain analysis, the range is between 1500 and 1520. Let’s plan a trade around this.
“Varun Beverages, Landmark, Inox Wind, Sampada are among top five holdings on a mark to market basis. These are actually companies that we are in the special sits (situations) fund. We look for steady compounders as well. Varun Beverages was a special sits which became a steady compounder as did Landmark Cars.”
Net headcount addition in FY23 surged 61% over FY22 and is expected to beat the record high of FY11. The record additions are being driven by aggressive hiring by private banks across functions such as customer interface, lending, assurance, and technology to drive their branch expansion into tier 3 and rural areas.