(Bloomberg) — India’s record-breaking rally in small-cap stocks is nearing an important hurdle that could set off an even further bullish move in the coming year, should it give way.

Most Read from Bloomberg

The Nifty Smallcap 100 Index has rallied 47% so far this year and is headed for a formidable upside barrier, represented by the upper-end of a long-term rising channel which has its origin at the 2009 low. The boundary currently rests around 4% above the November close.

The chances of getting there before year-end are high. Seasonality patterns covering the last decade show that the average return in December for the index has been around 3%, with monthly losses notched in only two of 10 instances.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision