#四月行情预测 Oscillation Bottoming, Performance is King

In April, the A-shares market is likely to continue its oscillation and bottoming pattern. Due to geopolitical tensions and overseas liquidity disturbances, a sharp unilateral rally is unlikely. However, supported by the resilience of the domestic economy and policy backing, the downside is limited, with the core range possibly between 3,800 and 4,100 points.

Three Major Allocation Themes

As annual reports and Q1 earnings are densely disclosed, funds will shift from speculation to performance verification. Consider focusing on the following areas:

Strategic Resources: Gold, copper, oil, and gas benefiting from inflation expectations and geopolitical risk reassessment.

New Quality Productivity: AI computing power, optical modules, semiconductors, and other self-reliance in technology.

Defensive Assets: Utilities, environmental protection, and high-dividend sectors as core holdings to hedge volatility.

Operational Strategy

It is recommended to adopt a "defense + opportunistic attack" strategy. In the first half of the month, focus on stocks with earnings surprises; in the latter half, be alert to risks of earnings shocks and small-cap market volatility. Manage positions reasonably and avoid blindly chasing high prices.