Bad news for Nifty | CA Rachana Ranade
Published: 2023-10-05
Status:
Available
|
Analyzed
Published: 2023-10-05
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker suggests that Nifty might be forming a double bottom, which is a powerful bullish reversal pattern, even though it's not at the end of a downtrend.
"I feel that this could be potentially like a double bottom in the formation. I know double bottom formation is very very powerful especially when it comes at the end of the downward Trend or the you know overall downward movement."
Pending
The speaker identifies 19,250 as a critical strong support level for Nifty, below which they would become concerned.
"I personally believe so again I I always say note this down I believe 19,250 ideally should act as a very very very strong support unless and until this is broken I will not be really scared"
Pending
The speaker notes that US 10-year bond yields reaching 16-year highs (around 4.85%) is a negative sign for equity markets, and a cooling off of these yields would be positive.
"the Benchmark US 10 year bond yield scaled to Fresh 16 years highs and it was hovering around 4.85% and that was the highest level as I mentioned since August 2007. Now is this a good sign for us answer is no if US bond yields were to cool off then it is going to be a positive sign"
Pending
The speaker highlights that US private businesses hired only 89,000 workers in September 2023, the lowest since January 2021 and significantly below the forecast, indicating a weakening employment situation.
"private businesses in US hired 89,000 workers in September 2023. The least since January 2021... well below the market forecast of 153,000 jobs"
Pending
The speaker states that India's Services PMI is strong, remaining above 60, indicating good performance despite minor fluctuations.
"Services PMI previous was 60 last that is the immediate previous one is 61... from 58 we have slipped a little bit to 57 58.6 to 57.5 but from 60.9 to 61 so all in all in all more or less similar not a great jump nor a great neither a great jump nor a great fall but above 60 that is definitely good"
Pending
The speaker indicates that the UK's PMI data is concerning, as it is consistently below the 50 mark, which is considered a threshold for economic contraction.
"UK is not doing good at all anything below 50 is not considered as good"
Pending
The speaker describes the US manufacturing PMI as precarious, hovering around the 50 mark, suggesting it's on the edge of contraction.
"manufacturing PMI has gone up from 47.9 to 49.8 from 50.5 to 50.1 and from 50.2 to 50.2 same but again us is just it's like hanging off the cliff it's almost a situation where they are going to just just pass something like that"
Pending
The speaker expresses a bullish outlook on India's economy, contrasting it with the weaker performance in the US and UK.
"US UK they are not doing that great but bhat India is doing really good as far as our macro economic picture is also concerned"
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The speaker predicts that the hospitality, travel, and food delivery sectors will experience a significant boost due to the 2023 Cricket World Cup, building on the momentum from the G20 Summit.
"hotels Hospitality travel all these are the sectors which have to get a a a big boost because of World Cup 2023 and I think this is going to be a double Bonanza why because first it was G20 Summit and immediately after G20 Summit it is the World Cup fever"
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The speaker anticipates that Q3 results will be particularly interesting, suggesting investors should be patient.
"most interesting to watch will be the Q3 results in that case so we must have patience"
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The speaker's personal strategy is to wait for Q2 results at a minimum, and they believe Q3 results will be more telling, leading them to stay invested rather than booking profits.
"I personally believe that it does make sense waiting for Q2 results bare minimum... I feel it does make sense waiting a little bit more that's what at least I am going to do I'm not going to book profits before I get to see how the Q2 results are coming up and in fact I feel that Q3 will be much more interesting and that is the reason why at least I'm going to stay invested"
Pending
The speaker states that historically, markets tend to perform well in the period leading up to elections and they do not want to miss out on this potential rally.
"markets generally perform well before elections okay they don't die out before elections so I don't want to miss out on that rally"
Pending
The speaker suggests that fundamentally strong stocks like HAL tend to rally after stock splits or bonus issues.
"if the stock is really strong if the fundamentals are really strong then post split post bonus typically we do see rally in certain stocks"
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The speaker is bullish on the IT sector for the next five years and even more bullish on the overall Indian economy for the next five years and until 2030.
"as a sector if you are asking me I am definitely bullish on the entire sector if you are taking a time span of five years why not and in fact I've mentioned that why only the it sector if you are asking me about the whole Indian economy I'm super bullish if you're taking a time frame of next five years in fact till 2030 even if you're talking about this Whole Decade super bullish about that"
Pending
The speaker confirms that RC is part of their portfolio and has performed well. They plan to make a separate video analyzing the reasons for its breakout and rally, likely by the end of the month or early next month.
"it has also a part of my portfolio and and you know it has done really well I would want to do a separate video in fact on r as to why what was the reason behind the breakout what was was the reason behind the stock rallying so much so definitely would try and make a video by the end of this month or Max first week of next month or so"
Pending
Based on management calls, the speaker anticipates a revival in the specialty chemical sector in the second half of FY24, but advises that patience of another six months to a year will be required.
"H2 FY24 the overall speciality chemical sector should start seeing some Revival so another half Year to one year patients would be required in that sector is what I got to understand from the con calls of various speciality chemical sectors companies"
Pending
The speaker notes that Central Bank of India is struggling to sustain above the 23.6% Fibonacci retracement level (53.81). If it can hold above this level, it will act as strong support, potentially leading to upward movement.
"crucial level can see some resistance if you can see here this is a monthly chart of course but if you see here previous month also it tried to cross the 23% retracement failed this month also it has tried to go past this but has not been able to ideally I would want this to sustain above the 53 uh. 81 that is the 23.6 retracement if it does then as per Fibonacci retracement this will act as a strong support and then it may move upward"
Pending
The speaker identifies 1500 as a key support level for HDFC Bank, with 1400-1328 also noted as potential lower support levels, based on pivot points and historical data.
"as per pivot one One support level that I can see 1500 should ideally act as a good support is what I can see even from the past levels 1500 and even 1400 to is S3 I think I should I mean let's also go zoom out a bit let's pull up the monthly chart and see if we can see some specific thing happening there on the monthly chart if we can see some level 1328"
Pending
The speaker explicitly states that Delta Corp is not a fundamentally strong stock and they prefer to stay away from such companies.
"I don't feel that it is it is is a fundamentally strong stock I very clearly mentioned in that in that video... I had mentioned in that video that it is not a good I mean it's not fundamentally strong stock so I typically love to stay away from such companies"
Pending
The speaker reiterates their strong bullish stance on the Indian economy for the next five years and the entire decade until 2030.
"if you are asking me about the whole Indian economy I'm super bullish if you're taking a time frame of next five years in fact till 2030 even if you're talking about this Whole Decade super bullish about that"
Pending