Best sector for 2023
Before selecting stock we should do sector analysis to identify the best sector for investing. Banking sector is looking good for upcoming year. Lets understand step by step to choose the best stock for upcoming year with RSI (Relative Strength Index) which is a momentum indicator.
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Thumb rule of RSI :- (1) Above 60 strong uptrend, (2) Below 40 Downtrend (3) Between 60-40 choppy or sideways.
Strategy:- At first we will identify the best sector for the upcoming year and then we will identify the best stock from that sector. This strategy is call top bottom approach. Look the image which is given below.
You can see price is above of RSI 60 in monthly chart which means this sector is good for long-term investment.
and now check this chart in the medium term time frame which is weekly chart. You can see again that price is above of RSI 60 that mean it is good for medium term investment.
Now check it in the daily chart. You can see price is above RSI 60 that a strong bullish signal of the sector.
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Conclusion
Ans :- Banking sector is looking good to invest because price is above the RSI 60 in monthly, weekly and daily chart. Now we get the best sector to invest in 2023.
Q&A
(1) Which sector is best to invest now?
Ans- Banking Sector is good to invest.
(2) Which sector will boom in future?
Ans- Banking, Infrastructure, Auto and It sector.
(3) Will stocks go up in 2023?
Ans- Yes.
(4) What will be the next big industry?
Ans- IT (Information Technology).
(5) Which sector will boom in next 5 years?
Ans- IT, Auto, Infra, Metal.
(6) Which industry will boom in 2050?
Ans- finance, health, trading, manufacturing.
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