Another long term pick could be in the shipping industry. Baltic Dry Index is at one of the biggest support since 2000s.
2015 & 2016 were two years the index went below this support.
Based on above & considering cyclical nature of Shipping one can start taking positions in Shipping companies in India.
Shreyas Shipping
On weekly charts one can see its above a major support, MACD is looking good. OBV has been at elevated levels while price crashed from 640 to below 200. Shows large amount of accumalation
Trade - Buy at CMP, keep increase amount as the trade moves your way.
SL - can be below 170, but can be ignored.
Target - 500, 640
2015 & 2016 were two years the index went below this support.
Based on above & considering cyclical nature of Shipping one can start taking positions in Shipping companies in India.
Shreyas Shipping
On weekly charts one can see its above a major support, MACD is looking good. OBV has been at elevated levels while price crashed from 640 to below 200. Shows large amount of accumalation
Trade - Buy at CMP, keep increase amount as the trade moves your way.
SL - can be below 170, but can be ignored.
Target - 500, 640
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