GoalTeller

October 13, 2024 | Read Online

Market Cap: GDP – At all-time highs

As long as us analysts keep giving such bearish data points, the market not gonna crash

Markets are stagnant and continue to move around the support levels of 24,700/25000 Nifty.
The immediate direction would be basis the further outcome of the Israel – Iran conflict.
We continue to maintain unless this gets out of hand geographically, the impact would be at best short-lived.
The INR depreciated to all-time lows of 84.13 to the USD (though we continue to remain positive on rupee and bearish on USD from a medium-term perspective – the direction of the value might not change but we are confident that the pace of annual depreciation would reduce over this decade)
From an investing perspective no change in our outlook, there is no reason to be bearish in the medium-long term while we see very few pockets to be bullish in the short term . Private Banks continue to offer value relative to the overall markets. Markets are down approx. 4% since it’s top.
Beware of FOMO in unlisted equity, even Gold and mid/several small caps (Unlisted equity-like Swiggy trading at > 425 now vs our own newsletter’s selling price of 365/75 3 weeks ago, NSE at > 6,500 and so on).
Gold at 7,800 again we feel can be now staggered/bought on dips and finally thematic direct equities (railway stocks are down 40% from their highs to give a semblance of what could happen) – So invest wisely – if u survive, the next 10 years can be a great money making machine in Indian equities. (Don’t let some bad investment decisions fold your cards)
Some interesting reads below and stay tuned for our annual Diwali Annual Yearbook over the next couple of weeks

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