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Indian Stocks Could Be Making a Double Top - Beware
The Bombay Stock Exchange, or the Sensex (^BSESN),
has rebounded from the June sell off during which the Sensex dropped 29.2%
from its all-time of 12,612.38 set on May 10, 2006. Currently the index
stands at 12,321.19.
The price chart of daily closes shows the rebound. If prices continue
to rise, the all-time high will form a strong resistance level. If prices
are unable to break above it, a double
top would form and a new downside would begin.
You can invest in India's stock market through:
- India Fund (IFN),
a closed-end fund that focuses on India.
- Morgan Stanley India Investment Fund (IIF),
a closed-end fund that focuses on India.
- Individual stocks that trade of the New York Stock Exchange and the
Nasdaq can be used to create your own customized portfolio. To see current
prices of Indian stocks see equitymaster.com.
For a complete list of Indian stocks traded on United States stock exchanges
see Bank
of New York.
| Indian
Stocks Traded on the NYSE and Nasdaq |
| Company |
Symbol |
Industry |
| HDFC Bank |
|
Banking |
| ICICI Bank |
|
Banking |
| Infosys Technologies |
|
Information Technology Services |
| Mahanagar Telephone Nigam |
|
Telecommunications |
| Rediff.com |
|
Information Provider |
| Dr. Reddy’s Laboratories |
|
Pharmaceutical Products |
| Satyam Computer Services |
|
Information Services |
| Sify Limited |
|
Internet Provider |
| Tata Motors |
|
Automotive Vehicles |
| Videsh Sanchar Nigam |
|
Telecommunications |
| Wipro Limited |
|
Information Technology (IT) Services |
| NOTE: Market cap and average daily volume as of September
24, 2006 were taken from finance.yahoo.com. |
Related Articles:
Investing in India is Volatile
Indian Stock Market Is On a Parabolic
Upside
Posted September 26, 2006.
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