Predictive Analytics and Expected Market movement
Mark Twain once said that “History never repeats itself, but it does often rhyme.”
Every day based on the historical price data I try to find patterns to predict next 20 days market movement. While identifying the pattern based on EOD data of 14-May-2024 the matching pattern found was from 28-Jun-1999. Today there is elections related uncertainty while in June 1999 there was Kargil war. The markets hit all time high in July 1999. Based on the pattern, Can it imply the market will hit all time high in June 2024?
Note - My assessment at the time of Covid crisis had gone totally wrong. I did not anticipate Market crash at that time because Covid 19 was known from December 2019 while Markets reacted to it in March 2020. I might be wrong this time also. The reason I am going ahead with this post is because Option Chain Data is also showing positive Momentum.
Dollar Index as on EOD 17-May-2024 is 104.45. The pattern is matching with 13-Nov-1998 when it was 95.74 from where it appreciated to 96.29 and fall to 93.39 in next 4 weeks. If the pattern identified is correct, The fall is good for emerging markets and one can expect FPI inflows and markets to scale new highs.
#patterns #prediction #PredictiveAnalytics #Nifty #DollarIndex
#patterns #prediction #PredictiveAnalytics #Nifty #IndiaElections
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