Time to Fade India: BUT DON'T LOOK DOWN!

850 Views05 Nov 2024 22:52

SUMMARY

The Indian market saw record foreign selling during October and that selling has continued this month.
Valuations are not only stretched, they are at historically high levels with mediocre earnings growth projected for next year.
Market breadth is narrowing and the market has declining momentum. Near-term moving averages will act as resistance levels.

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