A glance at some of the popular PMS performances in India

Markets have turned optimistic since March 8, 2022, but are still, trading with a downward bias. In this article, we would be looking at the performance of the popular PMS in India.

On March 11, 2022, Nifty continued its winning run for the fourth consecutive session, forming a bullish candle on the daily as well as the weekly spectrum. Following a deleterious start, the market remained range-bound throughout the session prior to actually closing marginally higher, aided by pharmaceutical, energy, and metal stocks. 

Nifty 50 appears to be consolidating after nearly a 1,000-point rally from the swing low of 15,671 levels, which saw a strong bullish engulfing candlestick pattern on both the daily as well as the weekly charts. Moving forward, Nifty 50 needs to break through the 16,690 to 16,815 level northwards in order to maintain its bullish trend. 

On the downside, however, 16,300 to 16,470 would serve as critical support. Furthermore, it is close to the downward-sloping short-term trendline that has been in place since mid-January 2022. A breach of this trendline would also indicate a shift in the short-term trend. 

Having said that, adding exposure to equity gradually at this level, makes sense. This will not just help you accumulate units at lower prices but also, set you free from timing the market. Therefore, in this post, we would be looking at the performance of the top 10 most popular portfolio management services (PMS).