Stock market forecast Saturday 24 July 1402 / waiting for positive signs in the stock market

According to Tejarat News, in the second week of July, the Tehran Stock Exchange had increased the hope of the market’s return with its consecutive growths that took place on the support of the total index. This week, in spite of many criticisms of the increase in the feed rate of petroleum refineries, the official notification of this resolution came, and in reaction to it, the Tehran Stock Exchange not only reversed the entire path traveled last week, but also lost its support floor.

Contagious recession in asset markets

American banknote transactions in Ferdowsi Square have been stagnant for some time. When there is movement in the currency market, it is generally downward. In general, however, the limited fluctuation range of the dollar in the range between 49 and 50 thousand tomans has caused analysts to be more cautious in estimating their expected profit. This factor has caused the stagnation in the currency market to spread to other parallel markets such as the stock market, coins, cars and property.

However, buyers started buying in a cautious manner in the last half hour of the Wednesday market to increase the probability of balance in the Saturday market. With the decrease in the height of the total index during the last week’s trading, this indicator is now at a distance of 18.7% from its ceiling, which was recorded on May 17. On the other hand, shareholders believe that the correction of the total index does not have a significant proportion with the correction of their portfolio, and many stocks have decreased in value more than what the stock market indices have corrected.

market value; Necessary but insufficient!

Currently, stock market activists believe that the market adjustment during the recent correction process has been done sufficiently and even more than what was needed, and the prices have reached valuable levels. Based on this, the market is ready for growth. But this is not the only necessary component for the bar market map to take on a uniform green color. The sentiment of the market, which has recently been associated with the pumping of negative news, has an undeniable impact on the way to return to the upward trend.

The stock exchange transactions on Wednesday took place while the total index did not break the tradition and behaved more strongly in the direction of the previous day. The main index of the glass hall faced a drop of 56,948 units, which is equivalent to 2.68 percent of this index. Based on this, the total index stood at the level of two million and 71 thousand units at the end of the last trading day of the week. Of course, the decline of the equal weight index was more intense and reached the level of 724,716 units with a drop of 2.93%.

Tehran Stock Exchange under the microscope of statistics and figures

The board of the Tehran Stock Exchange shows the volume of Wednesday’s transactions at 12.6 billion shares and the value of retail transactions at 7.374 billion tomans, which are related to stocks, preemptive rights and mutual funds.

Investigating the ownership statistics of real people indicates the continuous withdrawal of real capital from the stock market. The index of capital inflow and outflow at the end of the stock exchange on Wednesday reports the outflow of 1,204 billion tomans from stocks, preemptive rights and mutual funds.

It should be mentioned that Foulad with 4 thousand and 391 units had the biggest impact due to the sharp decline of the total index and it showed that currently the market is not only not receptive to technical analysis, but even the people of the capital market do not pay attention to the news base and with every negative news about every Companies sell their shares regardless of the company’s activity, the company’s industry and its value.

This behavior, which indicates irrational selling in the capital market, can be interpreted as a phase of desperation. In the market sentiment cycle, disappointment and selling along with disregarding fundamental and technical analysis is exactly the stage before the start of the next wave of market rise.

Saturday stock market forecast

As mentioned, in the final phase of the market on the last day of the week, we saw the adjustment of supplies with the emergence of buyers. Based on this, in connection with the prediction of the Saturday stock market, it can be said that the stock market is witnessing a balance between the power of buyers and sellers.

On the other hand, the money parked outside the market is still waiting for positive signs to immediately take advantage of the potential stock opportunity. Therefore, until these signs do not appear for investors, the return of the market to its upward phase is likely to be far from expected.

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