NIFTY MNC Index Forecast - Naive Prediction

NIFTYMNC   29,332  187.45  0.64%   
The Naive Prediction forecasted value of NIFTY MNC on the next trading day is expected to be 29,539 with a mean absolute deviation of 298.97 and the sum of the absolute errors of 18,237. Investors can use prediction functions to forecast NIFTY MNC's index prices and determine the direction of NIFTY MNC's future trends based on various well-known forecasting models. However, exclusively looking at the historical price movement is usually misleading.
A naive forecasting model for NIFTY MNC is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of NIFTY MNC value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period.

NIFTY MNC Naive Prediction Price Forecast For the 13th of December 2024

Given 90 days horizon, the Naive Prediction forecasted value of NIFTY MNC on the next trading day is expected to be 29,539 with a mean absolute deviation of 298.97, mean absolute percentage error of 141,043, and the sum of the absolute errors of 18,237.
Please note that although there have been many attempts to predict NIFTY Index prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that NIFTY MNC's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

NIFTY MNC Index Forecast Pattern

NIFTY MNC Forecasted Value

In the context of forecasting NIFTY MNC's Index value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. NIFTY MNC's downside and upside margins for the forecasting period are 29,538 and 29,540, respectively. We have considered NIFTY MNC's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Market Value
29,332
29,538
Downside
29,539
Expected Value
29,540
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Naive Prediction forecasting method's relative quality and the estimations of the prediction error of NIFTY MNC index data series using in forecasting. Note that when a statistical model is used to represent NIFTY MNC index, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.
AICAkaike Information Criteria129.9673
BiasArithmetic mean of the errors None
MADMean absolute deviation298.9717
MAPEMean absolute percentage error0.01
SAESum of the absolute errors18237.2747
This model is not at all useful as a medium-long range forecasting tool of NIFTY MNC. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict NIFTY MNC. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for NIFTY MNC

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as NIFTY MNC. Regardless of method or technology, however, to accurately forecast the index market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the index market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NIFTY MNC's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.

Other Forecasting Options for NIFTY MNC

For every potential investor in NIFTY, whether a beginner or expert, NIFTY MNC's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. NIFTY Index price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in NIFTY. Basic forecasting techniques help filter out the noise by identifying NIFTY MNC's price trends.

NIFTY MNC Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NIFTY MNC index to make a market-neutral strategy. Peer analysis of NIFTY MNC could also be used in its relative valuation, which is a method of valuing NIFTY MNC by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

NIFTY MNC Technical and Predictive Analytics

The index market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of NIFTY MNC's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of NIFTY MNC's current price.

NIFTY MNC Market Strength Events

Market strength indicators help investors to evaluate how NIFTY MNC index reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading NIFTY MNC shares will generate the highest return on investment. By undertsting and applying NIFTY MNC index market strength indicators, traders can identify NIFTY MNC entry and exit signals to maximize returns.

NIFTY MNC Risk Indicators

The analysis of NIFTY MNC's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in NIFTY MNC's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nifty index prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Also Currently Popular

Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.