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Economic And Technical Outlook Of Indian Stock Market

Stock-Markets / Stock Market 2017 Dec 22, 2017 - 12:15 PM GMT

By: Submissions

Stock-Markets

Macroeconomic Fundamentals

India is the sixth largest in terms of nominal GDP already. Moreover it has shown a outstanding momentum in its GDP growth rates. The country is the world’s fastest growing major economy.

Future prospects are magnificent. India is right in the sweet spot of the „new economy“ that the world is going to. It has a very young and well-educated workforce, which is already a major exporter of IT and outsourcing services.


The ingredients scream for economic growth if plugged into Solow’s neoclassical growth model. More important, India got the right animal spirits. It ranks high in consumer confidence and there is a healthy risk taking culture evident. India is among the biggest start-up hubs worldwide.

The Indian stock market ranks mid-field among the 20 biggest stock markets in terms of market capitalization worldwide.

Technical Analysis

The success story is fully confirmed from our Nifty technical analysis point of view. The Nifty looks like it is in a 3rd of 3rd wave currently. Upside trend should at least continue or even accelerate. A trend channel support, connecting waves (2) and 2, should hold up for the coming months into 2018. The current trend is highlighted in pale blue below.


 
Short term the Nifty 50’s Elliott wave pattern looks like a rally just started that will carry on well into the year 2018. Past days wave action transformed the drop from November 6th into a three-wave corrective pattern. The road to the upside is now cleared. We forecast further gains for the Indian stock market in the coming weeks.

About The Author

Our background lies in economics and trading. We have been trained at reputable universities and worked as proprietary traders as well as portfolio managers throughout the past couple of decades. We started exploring the field of behavioral economics due to self-interest in the late 90’s. 
We experienced that the vast majority of publicly available financial market research either lacks quality or conflicts with other interests of the publisher. Our goal is to provide high quality analysis of liquid markets worldwide to the broad public. We’ve therefore launched recently our website.

Please visit us for updates on the Indian stock market:

http://www.scienceinvesting.com/technical_analysis/equities/nifty/

© 2017 Science Investing - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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