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I can't tell you why exactly why India is a buy, as I do not know much about macroeconomics. The main ideea is that elections are coming and investors are confident this will change India's economy. This is an ideea coming from the macro analyst I follow, and he is yelling Buy Buy Buy since February. It might be a little late now, as India rallied strongly.

Technically, there is a flag pattern at a very strong resistance area, MACD started turning up from a buying area and so did the Force Index .
This chart doesn't serve as a good picture, I did the analysis on the Index itself. Candlesticks don't offer a good perspective, and there might be some fluctuations on the MACD histogram.

As I said, it might be a little late to go in, but I think it's worth trying. I will keep this position until the Fundamental picture changes.
2 years ago
take a look at this weekly chart:

Election results will greatly dictate where markets will be headed. If a single party unified government (BJP) comes into power then it will be considered favorable for businesses and markets might go parabolic for next 3-6 months. However, anytime any market breaks through All Time High then it comes back to test breakout level with in 6-18 months and that process is very frustrating.

In case if a coalition government comes into power then it shall be all RED....