SKS Microfinance is now Bharat Fin Inclusion. It is turning out to be the trade of the Year
What's the best part: The rally has happened in a classic textbook style which was there for everyone to see.
Once Upon a time on Jan 12 2016: I covered SKS Microfinance
The chart on that date:
"Science of Stock Price Action" Argument:
SKS Microfinance stock has moved above the resistance of 100 dma. The rally is also changing the slope of all moving averages to up, which makes the stock buy on dips. No stock moves in one direction forever. It will pullback and so one should keep it on their watchlist to add it when they pullback to attractive levels.
The stock pulled back to test 100 dma on Jan 20 and retest again on Feb 29 2016
The Chart was all set for Big Bullish Launch
Here's the outcome -
This is how text book chart moves happen
Science of Stock Price Action
There is a logic that stocks follow when they make big moves. I have tried, to sum up, those concepts in a methodology called Science of Stock Price Action.
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