India is expected to grow 7.3% in 2019, but is the estimate reliable?
Economic growth worldwide has taken a hit, and India is not outside the softening growth projections. A fair comparison could be made with China for whom the Sino-American trade war is proving hazardous. But India may be in a better position than China, as IMF says that being the six-largest economy in the world, India has the potential to grow by 7.3% in 2019.
However, these sources are unreliable.
The former chief economist of IMF himself expressed doubts over the veracity of these numbers, calling them ungrounded since there isn't any substantial job growth in India.
Consequently, he suggested that India should delegate the analysis to an independent third party body that could take a detailed look at the existing economy and come up with accurate numbers and realistic strategies.
China has also been criticized over its dubious growth figures, but some sources justify that it’s simply difficult to compile reliable data for emerging markets like India and China.
According to the World Bank’s statistical capacity score, India is in the 91st percentile in its ability to produce high quality aggregate data, beating China in its score at 77th percentile. This indicates that the nation should have a much easier time compared to China when it comes to providing investors with accurate numbers.
Reasons for the unreliable numbers in India are frequently, perhaps rightly, attributed to its strained relation with Pakistan over Kashmir issue, corruption and misinformation. Also, political instability in the country is also creating uncertainty in the market.
INDY in -0.44% downward trend, falling for three consecutive days on December 23, 2024
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where INDY declined for three days, in of 243 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on INDY as a result. In of 84 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for INDY turned negative on December 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
INDY moved below its 50-day moving average on December 16, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for INDY crossed bearishly below the 50-day moving average on December 18, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The Aroon Indicator for INDY entered a downward trend on December 03, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where INDY's RSI Oscillator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where INDY advanced for three days, in of 347 cases, the price rose further within the following month. The odds of a continued upward trend are .
INDY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Industry description
General Information
Category WorldStock