DENA BANK trailed the broader market on Friday. It lost -0.37% to close at 13.5 which is it's 52 week low, down -49% from it's 52 week high.
DENABANK is currently in a down trend. The previous short signal in DENABANK has not been profitable for investors in general. If you are short on DENABANK at current levels please make sure that your allocation is limited and that your portfolio is well diversified.
DENABANK has been underperforming the NIFTY-50 index in recent time, after having outperformed till 8 Jan, 2016. Over the last 3 years and 1 month, DENABANK underperformed the NIFTY-50 index on 58% days.
During the last three months DENABANK was mostly loss making and delivered on average -0.09% per day. It's best return during this period (of +7.19%) was on Monday, 29 Oct, 2018. While it's worst loss in the same period (of -19.55%) was on Thursday, 3 Jan, 2019. There was initially a bullish trend during this period which started on 2 Nov, 2018 and went on till 9 Nov, 2018. The bullish trend returned +9.28% to investors. This was followed by a bearish trend that started on 2 Jan, 2019 and ended on 7 Jan, 2019. This bearish trend lost -25.0% of investor capital.
DENABANK had 5 profitable and 7 loss making months over the last year. During the last year, number of profitable months of DENABANK and NIFTY-50 index were the same. DENABANK was also a more risky investment than NIFTY-50 index as it's worst month in the last year, Jan 2019, returned -21.05% compared to -6.42% returned by NIFTY-50 index in Sep 2018. DENABANK and NIFTY-50 index, both had periods of 2 consecutive profitable months. It is interesting to note that both DENABANK and NIFTY-50 index significantly outperform during months when quarterly/annual results are announced.
"The avoidance of taxes is the only intellectual pursuit that still carries any reward.
DENABANK is becoming less volatile overall. In comparison, the NIFTY-50 index is seeing a fall in volatility. During the last three months, there was a significant fall in DENABANK's volatility from 6 Nov, 2018 to 18 Jan, 2019. While there was a significant fall in the NIFTY-50 index's volatility from 31 Oct, 2018 to 5 Dec, 2018.
Advanced/professional short-term investors should note that DENABANK has significant negative skewness in it's return distribution. This indicates that DENABANK is very risky for short-term investment and can significantly underperform for long durations.
NIFTY-50 index has more chance of extreme outcomes than DENABANK. Therefore, NIFTY-50 must receive a lower allocation than DENABANK in your portfolio. NIFTY-50 index usually has shorter drawdown period than DENABANK.
On a general note (since you are interested in DENABANK), three mid cap instruments that deserve special mention are BATAINDIA, CUB and LTI. They have all outperformed the market and must be closely watched for investment opportunities.
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