New Delhi:
Technical indicator, historical pattern and sectoral valuation shows that the ‘Indian market’ is reaching close to the medium-term bottom. However, no clear speed has been indicated yet. This information was given in a latest report on Tuesday. “We will advise investors to invest for some long term between 21,700-22,000,” Axis Securities said in its ‘India Equities Exclusive Report’.

The report said, “Most of us cannot know the exact top and bottom, but prudent investment means to capitalize on opportunities, especially when the sentiment is so unilateral. One such opportunity is still there.”

In different sectors, valuations are below their one-year and average of five years, indicating possible opportunities for long-term investors. The Nifty-50 Index has experienced a significant decline of about 16 percent from its summit 26,277 in September 2024, the sixth biggest decline after the 2008–2009 Greatness and the second biggest decline after the decline due to Kovid in March 2020.

The last five -month decline in November 1996 has raised concerns about the potential recession market. The Nifty has entered a significant support area defined by the 100-Veek moving average envelope (+/- 3 percent), including historically declining except for extreme events such as Kovid-Crash. This indicates a closer near any kind of durable level.

The report said, “Historical patterns suggest that extreme bread reading often occurs before the lower market level. But, investors should wait for the recovery to be confirmed before taking the position.”

(This news has not been edited by the NewsDeskReport team. It has been published directly from the syndicate feed.)

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