Stock market forecast Monday, August 2, 1402/ whispers of the return of the green market map – Tejaratnews

According to Tejarat News, the stock exchange transactions on Sunday took place while the total index could not increase its height again. In this way, the total index faced a drop of 6,189 units, which is equivalent to 0.31% of this index. Accordingly, the total index stood at the level of one million and 978 thousand units at the end of trading.

A point that should be taken into account in relation to the situation of the stock market is the intensity of the effectiveness of the stock market indices from negative news and reports. On the other hand, if the news or a company report helps the foundation of the share and that industry, the capital market does not pay attention to it and continues its decline.

For example, Shapna’s first quarter report of 1402, which showed the decline in profitability of Isfahan oil refining, caused a decrease in the shares of oil companies. The same issue spread to other industries and the whole market faced a drop in stock value.

But it should be seen whether the reports of other influential companies that will be published later can have an impact on the current stock market trend or not?

Tehran Stock Exchange under the microscope of statistics and figures

It should be noted that in Sunday trading, the equal weight index behaved contrary to the overall index and added 2,600 units to its height. This growth of 0.29 percent brought the equal weight index to the level of 702 thousand units.

It should be noted that the Tehran Stock Exchange board shows the volume of transactions at 6.2 billion and the value of small transactions at 4.11 billion tomans.

Investigating the ownership statistics of real people indicates the withdrawal of real people’s capital from the stock market. The capital inflow and outflow index at the end of the stock exchange reports the outflow of 197 billion tomans from shares, preemptive rights and equity funds.

Technical analysis of the total index

In the long-term view, the upward channelized movement of the total index can be framed by drawing the green channel. After hitting the ceiling of the channel, the total index entered the correction process, which continued until the beginning of August. Currently, the total index is more than 100 thousand units away from the middle of the ascending channel.

The return of the market in the last two days of last week made the residents of the capital market hopeful about the return of the market. In a closer view, the total index has moved in a downward channel during its correction process. Currently, the main indicator of the glass hall is located at the bottom of this channel and also on the upward trend line.

The intersection of the bottom of the channel and the upward trend line has made a very important point for this indicator from a technical point of view. If this range is lost, the total index does not have significant support up to the range of one million and 830 thousand units.

On the other hand, the divergence in the RSI indicator has made market participants optimistic about the possible return of the market. The index swings in November and February have respectively recorded a higher floor in the levels of this indicator. Currently, although the index is at higher levels compared to February of last year, the RSI of the total index is at lower levels than at that time.

Monday stock market forecast

The quarterly performance reports of companies were generally associated with increased profitability in most industries. On the other hand, increasing the volume and value of transactions will help the dynamics of the market. Based on this, it seems that with the return of the symbols that were stopped due to going to the meetings, the dynamics will return to the stock market and cause some of the excitement of selling the market to decrease.

Therefore, in relation to the forecast of the stock market on Monday, we can expect more balance to rule the market. Also, in symbols that are less related to the controversial decision to increase the feed rate, based on the performance of the quarter, they will face more luck than the previous days.

Read more market analysis reports on the Capital Markets page.