The strategy underperformed the market this week. Mi50 closed at 48.4% for the FY vs the highest achieved last week @52.46%. The benchamarks remain flattish meanwhile at +14% and +18.4% for NSE50 and CNX500 respectively. The main culprits this week were Arcotech and some RiceExporter stocks who tanked against the market. The 50% mark as somebody rightly pointed out is turning out to be a stiff resistance 🙂 Anyhow, this is not a cause of worry as we await the next move up.
The drawdown is now at a mild -2.6%.
This week there were 3 exits from the strategy and 3 new entrants. Exits were CamlinFin, BalmerLawrie and EsselPack. The new entrants are Mawana Sug, Motilal oswal and Vip Industries.
The out-performance of the strategy vs the benchmarks has been unremarkable since Oct 16 and that may be some indication that this current move may be stalling.
Starting the new FY1617, the newsletter format will change. I will continue to report the operating numbers on a weekly basis but will do a detailed stock analysis only in a month end report from April 1 2017 onwards.
Have a Happy Weekend.