The two Large cap stocks that have severely under performed the market are -
1. Bharti Enterprises
As you can see in the daily chart above: Bharti stock has come down pretty sharply from levels of 415 in October to now 342. That's 18% correction and during same time - Nifty has rallied 10%. That puts the under performance at 28% in 4 month time frame. What's interesting - stock is at 340-342 - the level from where it has always bounced over last 3 months. Does that present a short term trading opportunity bounce? Well, one cannot rule that out.
2. Reliance Ind
As you can see in the daily chart above: Reliance stock has also corrected substantially over last 5-6 months. The stock is down 20% and still there is no sign of support.
Bull market does not mean every stock rallies and goes up to moon.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers