Axis Long Term Equity Fund –Growth is an open ended Equity Linked Saving Scheme [ELSS] which has a lock in period for 3 years. This scheme is ranked 3 in ELSS category by CRISIL.
Taxation: This fund aims for “SHARE LESS SAVE MORE”. This fund helps the investors to get tax rebates under section 80 C of Income Tax Act.
Portfolio Analysis: The major holdings of this fund are into Banking and Automotive sectors. Below is the table shown of Top Holding & Sectorial allocation of this fund.
Top Holdings:
Sector Allocation:
Returns as on 01st March 2018
Risk:Thisfund has concentrated exposure to sectors and so the risk is high. Similar to the Nifty, this fund is trading at the life time highs and as of now there are no exhaustion signs. It is better to eye for long term investment in this fund. Fresh investments should be done in form of SIP only with time horizon of three years or more.
TechnicalPerspective:As shown in the above daily chart, post the completion of wave 2 near 30 levels prices exhibited a sharp move on upside and moved above the pivot high of 34 levels which suggests intermediate wave 3 is ongoing. On downside as long as 50 period’s Exponential moving average is intact trend will be positive. Prices post moving below the EMA could not sustain and saw aupmove.
Investment rationale:Axis Long Term Equity ELSS scheme can move higher over medium term. One should continue to do investments through SIP to generate the greater wealth along with tax saving.
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