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 upward trend: price may ascend as a result of having broken its lower Bollinger Band on November 12, 2024
INDY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 42 cases where INDY's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where INDY's RSI Indicator exited the oversold zone, of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on November 25, 2024. You may want to consider a long position or call options on INDY as a result. In of 85 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for INDY just turned positive on November 22, 2024. Looking at past instances where INDY's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
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 .
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
INDY moved below its 50-day moving average on December 09, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where INDY declined for three days, the price rose further in of 62 cases within 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.
Industry description
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Category WorldStock