Predicting 1 year outcome of NIFTY IT in 2024

 There is a Gujrati proverb that translates to “you can predict the character of a child while in the cradle and of daughter in law as she enters the door of in-law's house for the first time, Based on their behavior” While I wouldn’t agree or disagree with above proverb, I am always fascinated to predict the stock market stocks and indices based on their individual characteristics using Predictive Analytics.

Here, I share an example on Nifty IT index as on EOD 1-Jan-2024 to understand how it would perform one month down the line and one year down the line. Nifty IT closed near 35700 on that day. The matching patterns were identified by the system with Bank of America 1-December-2005 from where in next one year it had moved up 19% . The second pattern matched with Mcdonalds 26-Jan-1983 from where it had moved up 31% in next 12 months. The Nifty IT actually moved up 26% by the end of the year. Note – Percentage mentioned are approx.
PredictiveAnalytics Patterns stockmarket Nifty NiftyIT prediction pattern

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