Stock market forecast for tomorrow, April 12 / Will the stock market path change?
According to Tejarat News, the total stock index climbed more than 15,000 units today after two days of downtrend. Eventually it reached the range of one million and 474 thousand units.
Vahid Nekouei, a capital market expert, says in an interview with Tejarat News: The total stock market index had reached 1,575,000 units in mid-September last year. But then it fell with four consecutive declines and the index could not reach its previous range.
He continues: “Finally, in February, the total stock market index reached a limited one million and 280 thousand units.” After that, it started a new upward movement and reached one million and 340 thousand units. But it remained in that range until the last days of the year, and the recent ascent began, and finally reached 1,471,000 units on April 7th. The last three uptrends were from 1,207,000 units to 1,471,000 units.
Stock market reaction to car stocks
Nekouei explains: “According to the technical analysis, the total and balanced index can be technically corrected after three waves of ascent and reaching the intersection of several resistance levels.” However, the overall index and the stock market homogeneity index have reached the limits from which we expect correction. But from the point of view of the board and the sentimental analysis of the stock market, it reacts more to the good news. Currently, the market pays more attention to market leaders. After the events of the automobile group, the block transfer of Saipa and Khodro shares increased the per capita purchases of these symbols rapidly.
The capital market expert states: The entry of money into certain codes, which is ambiguous, shows that certain people intend to invest with specific purposes. The market does not seem to have any particular concerns. The food and pharmaceutical groups will pass this reform well, although they can be considered for eliminating the preferred currency. However, the government’s lack of transparency in announcing pricing policies and the president’s emphasis on controlling prices and not raising the selling rate increased the risk of buying these shares.
“Due to the effects of the Russia-Ukraine war, demand for oil and goods is projected to be high for another 18 months,” Nekouei concluded. The refining and commodity-oriented group are also worth considering. Overall, it seems that despite the good demand in the market. The inflow of money in the market and the increase in the volume of daily trades is not far from the resistance of 1,490, and the market has not much to worry about and improve in the current situation.