Investors of India’s stocks might have something to cheer about. Two global banking behemoths have strongly optimistic outlooks on Indian markets.
James Sullivan, JP Morgan’s head of equity research for Asia excluding Japan, dubbed India as the “best growth story” among global emerging markets. JP Morgan predicts that the Indian economy will grow at 15%, while markets are expecting a 20% growth for the nation, as told to CNBC.
One of the factors that influenced Sullivan’s outlook is stabilizing oil prices, which is a potentially significant factor since India is a net importer of crude.
Sullivan also seems hopeful that Indian markets will be able to weather the potential volatility due to the nation’s April-May general elections.
Goldman Sachs, too, seems bullish on India. The investment bank raised its rating on Indian stocks to “overweight”, citing solid earnings in Q3 FY19, market expectations of a potentially stable government, and under-performance in January/February. Goldman forecasts that India’s benchmark stock index Nifty 50 would reach 12,500 in 12 months — that’s almost +9% higher than its last close on Monday.
The RSI Oscillator for INDY moved out of oversold territory on January 28, 2025. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 26 similar instances when the indicator left oversold territory. In of the 26 cases the stock moved higher. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on January 30, 2025. You may want to consider a long position or call options on INDY as a result. In of 84 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 January 28, 2025. 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 338 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The 50-day moving average for INDY moved below the 200-day moving average on December 27, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an 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 .
INDY broke above its upper Bollinger Band on February 04, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for INDY entered a downward trend on February 04, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Category WorldStock