Stock market forecast for Wednesday, November 17, 1402 / will the tradition of Wednesday trading be repeated?
According to Tejarat News, at the end of trading on Tuesday, the main thermometer of the glass hall with a growth of 1.07%, equivalent to 21 thousand 823 units from the height of this index, managed to reach the level of 2 million 52 thousand 695 units.
The increase in the height of the main indicator of the glass hall happened while the equal weight index, which indicates the general price trend of small and medium-sized companies, registered a parallel performance. The equal weight index also increased by 1.66%, equal to 11,352 units, and reached a height of 696,000 units.
The overall OTC index, which reflects the general level of the stock prices of the companies present in the OTC, also reached 24,986 units with a growth of 1.07 percent, equivalent to 265 points from the height of this index.
Tehran Stock Exchange in the mirror of statistics
The board of the Tehran Stock Exchange showed the value of retail transactions (stocks, preemptive rights and mutual funds) on Tuesday at 6,255 billion tomans. A nearly 50% increase in the value of transactions compared to Monday’s trading flow was the noteworthy point of the market.
Previously, experts said that until the evaluation index of the Tehran Stock Exchange cannot be stabilized in the ranges higher than five hemats, from the point of view of reading the long-term growth of the market, the approval of the long-term growth of the market has not been issued. Now, with the transaction value in the channel of 6,000 billion, it seems that the reading component of the market is also in favor of the positive price trend.
The board of Tehran Stock Exchange shows the trading volume of 11.2 billion shares on Tuesday. Experts believe that the more the trading volume reaches higher levels in the current ranges of the total index, the clearer the vision of the new wave of the total index will be drawn in the minds of the shareholders. Because the arrival of fresh shareholders makes the way up smoother.
Also, checking the ownership statistics of real people on this day indicates the entry of real capital into the stock market. The index of capital inflows and outflows at the end of the stock exchange on Tuesday reports the inflow of 322 billion tomans into shares, preemptive rights and mutual funds.
Wednesday stock forecast
The reduction of concerns about the expansion of the war and Iran’s involvement in its fire has increased the interest of the people of the stock market to buy. While the American bill experiences limited fluctuations in the channel of 51-52 thousand tomans, favorable 6-month reports from the majority of industries, which did not have a chance to appear in the past weeks due to being in the shadow of the war, have become one of the drivers of market transactions.
From this day on, if the situation continues at the current level of stability, in the sense that no unexpected event happens, the stock market will continue its mild upward trend on the last day of the week. The closest resistance in front of the total index is the range of two million and 80 thousand units. However, it does not seem that the resistance of 2 million and 80 thousand index units will cause the market to turn around and return to the previous trend. Based on this, it can be said that this range can only create a pause in the new market trend and an opportunity for shares to change hands.
According to the growth rate of the main indicators of the Glass Hall, the market will most likely face this resistance on Wednesday. Therefore, it is expected that the amount of supplies will increase in the market of the last day of the week.
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