5 January 2018, Friday, 12.36am Singapore Time
(Click on Relativity Chart above to Expand)
Attached above is the Technicals of the Past Half-Year Trending Relativity of the top 3 banks in India and the top 4 banks in the US in terms of market capitalisation. The SPDR Financial Select Sector Index is used as the bench-marking process. The litmus result yields the finest breed horse from among the best of the best among some of the strongest sectors internationally (financial sector).
India banks are generally on par with the benchmark when it came to short-mid term performances for the look-ahead into 2018. With business momentum and trend as the best friends, the top 2 banks in this comparison turn out to be Bank of America and JP Morgan. Of particular note however is that something may be brewing positive for State Bank of India for 2018. In November State Bank of India was in fact at one point in time the best performing bank among the tops banks in India and US before it retraced deeper than expected when it reverted to the mean at the benchmark. Out of the top 3 India banks, State Bank of India comes into 2018 as the best performer in the short-mid term and the trend will likely carry on for 2018. This is then followed by HDFC Bank and ICICI Bank respectively.
India banks are generally on par with the benchmark when it came to short-mid term performances for the look-ahead into 2018. With business momentum and trend as the best friends, the top 2 banks in this comparison turn out to be Bank of America and JP Morgan. Of particular note however is that something may be brewing positive for State Bank of India for 2018. In November State Bank of India was in fact at one point in time the best performing bank among the tops banks in India and US before it retraced deeper than expected when it reverted to the mean at the benchmark. Out of the top 3 India banks, State Bank of India comes into 2018 as the best performer in the short-mid term and the trend will likely carry on for 2018. This is then followed by HDFC Bank and ICICI Bank respectively.
DNA Technical Rating:
Continue to be Bullish on India Banks and Very Bullish on US Banks
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