ilmscore | What to expect in 2024? | Recap 2023 | CA Rachana Ranade

What to expect in 2024? | Recap 2023 | CA Rachana Ranade

Published: 2023-12-29
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
Historically, January and February have shown negative returns for the Nifty over the past six years, with five of the last six Januarys being negative and most Februarys also showing declines.
"Out of the last six years, last five years have been in negative for the month of January... if I check out February as well... February 18 minus 4.85% Feb 19 minus 36% FB 20 minus 6.36% FB 21 plus 6.56% FB 22 minus 3.15% F 23 minus 2.03%."
Nifty Performance in January and February
Pending
The US Federal Reserve is expected to reduce interest rates three times by 25 basis points each in the upcoming period, which is seen as a positive market driver.
"Fed has mentioned that they would reduce the interest rates three times by 25 basis points."
US Federal Reserve Interest Rate Policy
Pending
The Q3 earnings season, starting in January with IT companies, could set a negative tone for the market if these companies do not report strong financial results.
"Quarterly results will start pouring in from the month of January first ones who typically declare their quarterly results are it companies... and now if it companies don't come up with good set of numbers they could be the first ones to set the tone in a kind of negative way."
IT Sector Quarterly Results
Pending
Key support levels for Nifty are identified around 21,000, considering the 200-day moving average (DMA), 50-DMA, and trend line support. These are all above the current trading price of 20,913.
"200 Dema is around 19380... 50 Dema line that is at 20,500... 21,159... trend line... 2093... roughly 21,000 seems to be a very good support as of now."
Nifty Levels
Pending