As stock markets are breaking out across the globe, one of the most interesting breakouts and growth stories is India.
If you look at the potential investment ideas in India, you’ll find there aren’t a lot of choices.
So what is a growth manager to do? They can pile in the India ETFs or the only obvious ADR candidate is MMYT.
Great India plays are EXTREMELY scarce. For that reason, MMYT is a must own if you are bullish on India.
The stock has based in a giant range since it came public in 2010. 36 has been major resistance since 2011.
It’s always tough and darn right foolish (IMO) to recommend a stock at resistance. That said, if this is the beginning of a multi-year move in Indian equities, this is a perspective that will be useful for awhile.
This VDTH is a newer issue, but the growth numbers don’t look so great at first blush. Maybe growth will accelerate? This is one worth watching as the longer trends move up.
If any Indian ADRs come public, we’ll want to check into them as well. After all, demand is always eventually met with supply.
Full Disclosure: I have no positions in any securities mentioned at the time of writing
Trade ’em well