Markets are expected to depict downward trend in the next 3 to 4 weeks.
We predicted bullish market between mid-December and first week of March. It has been an interesting bull rally as predicted. This bull rally was witnessed despite negative market sentiment owing to demonetisation and revised budget dates. Markets fell on day before budget but more than recovered on the budget day despite any major announcements in the budget. In addition, FIIs were net sellers in December and January. These factors indicate that there was no fundamental boost to economy for markets to rise approximately 10%. Technically, there was no evident chart pattern too for this bull rally.
The bullish prediction from mid-December until 1st week of March has yielded 9.7% return.
Our return on Nifty predictions has yielded 16.8%* return in 8 months (between July 2016 and February 2017). This is calculated on Nifty close value.
Courtesy By:- Shefali Sahita, CFA