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[hfe_template id='11223'] [ad_1] Many stocks recently witnessed an over-correction, as high as 15%, when the Nifty index corrected 8% as of October 24 from it's all-time high of 26,277.35 made on September 24. The index is now trading below the 24,300 level and also below most of its significant exponential moving averages (EMAs). Domestic brokerage firm Emkay Global in a report stated that 64% of the stocks in their coverage universe have fallen more than 15% from their 52-week high, which may now provide an attractive opportunity if they buy this dip. However, it is to be noted that the negative momentum may not turn around immediately in these stocks, but they are all attractive from a 1-year perspective. Below is the list of the same: IndusInd Bank The MFI pain is temporary and this is not a classical down-cycle that wipes out large parts of the book. The bank’s decision to sacrifice growth rather than compromise on credit standards is an overlooked positive. The...

[hfe_template id='11223'] [ad_1] The recent downturn in the Nifty 50 has raised concerns amongst market participants. Historically, the Nifty has shown a pattern of retracing to its moving averages before resuming its uptrend. However, we are currently witnessing a more pronounced decline, with the index dropping below its 100-day moving average. This has prompted questions about whether the market’s current fall is the start of a deeper trend down the hill or simply a flash in the pan before the uptrend resumes. Now let’s try to figure it out with the help of some data. Nifty has declined for 4 weeks in a row. This is a rare occurrence. An analysis of all such past occurrences from 2010 reveals an optimistic outlook. Historically, when the market has corrected by 5% or more over four consecutive weeks, the Nifty has shown strong forward returns over the subsequent months. The table displays the 1-month, 3-month, and 6-month forward returns along with the probability of ...