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Indian Stocks Just Broke Out To New Highs In A Hugely Bullish Sign

From Taki Tsaklanos: The stock market in India breaks out. This is major news. And, as usual, the really important news in markets goes unnoticed by financial media.

InvestingHaven readers, however, always receive major news … even for free. The only media outlets that mentioned the important news about the stock market in India are the India Times and Business Insider.

India Times explains that the India stock market is very bullish: “Indian equities have outshone their global peers by a huge margin so far this calendar after trailing many of their Asian peers in 2016.” Moreover, the article adds that “When you look at India, you almost walk away saying where is the growth. But when you look at India form a global lens perspective — whether you look at growth versus developing economies or developed economies — it does stand out. And the good news is that India is all about a structural change that is in favour of growth rather than something which is pure stimulus-led.”

On Business Insider, we find this article about successful investor Gundlach who also is very bullish India stocks. He also refers to Indian billionaire investor Rakesh Jhunjhunwala, who is “extremely bullish” on Indian stocks.

At InvestingHaven, we wrote 14 months ago that India was about to flash a huge BUY signal. How much more accurate can anyone be? Moreover, we spotted the India stock market breakout and followed up with our India Stock Market Outlook For 2017 which was also very bullish.

Right now, the long term chart of the Nifty 50, the largest stocks in India, is so incredibly enticing after it broke through the psychologically important level of 9,000 points. That simply suggests much more upside potential is there, both in 2017 and 2018.

The easiest way to play this trend is through the INDA ETF, as individual stocks in India are hardly accessible for Westerns investors.

india stock market

The iShares MSCI India ETF (BATS:INDA) closed at $31.12 on Friday, down $-0.15 (-0.48%). Year-to-date, INDA has gained 16.08%, versus a 6.04% rise in the benchmark S&P 500 index during the same period.

INDA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #3 of 80 ETFs in the Asia Pacific Equities Ex-China ETFs category.

This article is brought to you courtesy of Investing Haven.

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