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Mar 19, 2019

JP Morgan & Goldman Sachs are optimistic on India

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.

 

 

 

Related Ticker: INDY

Aroon Indicator for INDY shows an upward move is likely

INDY's Aroon Indicator triggered a bullish signal on March 19, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 329 similar instances where the Aroon Indicator showed a similar pattern. In of the 329 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on March 27, 2024. You may want to consider a long position or call options on INDY as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

INDY moved above its 50-day moving average on March 27, 2024 date and that indicates a change from a downward trend to an upward trend.

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 entered the overbought zone. Expect a price pull-back in the foreseeable future.

The Moving Average Convergence Divergence Histogram (MACD) for INDY turned negative on March 13, 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 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .

The 10-day moving average for INDY crossed bearishly below the 50-day moving average on March 26, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 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 .

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 .

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks to track the investment results of the Nifty 50 IndexTM composed of 50 of the largest Indian equities. The underlying index measures the equity performance of the top 50 companies by free float market capitalization whose equity securities trade in the Indian securities markets. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The fund is non-diversified.
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Category PacificAsiaexJapanStk

Profile
Fundamentals
Details
Category
India Equity
Address
iShares Trust400 Howard StreetSan Francisco
Phone
1-800-474-2737
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