#WeeklyIndexCheck CW03/2022
Uptrend under pressure. Momentum not only in negative territory but also worsening.
Autp & Power are the two indices still standing strong.
Market breadth has now cooled off from its overbought levels.
Uptrend under pressure. Momentum not only in negative territory but also worsening.
Autp & Power are the two indices still standing strong.
Market breadth has now cooled off from its overbought levels.
Most major indices are in uptrend under pressure.
⦿ Auto & Power are in confirmed uptrend.
⦿ Pharma, FMCG & Consumption are in downtrend.
⦿ Auto & Power are in confirmed uptrend.
⦿ Pharma, FMCG & Consumption are in downtrend.
Major indices (Nifty, CNX500, Midcap & Smallcap) are in negative momentum that is also worsening.
⦿ Auto & Power indices are improving strength & momentum
⦿ While Banking indices are in negative momentujm, they are gradually gaining strength.
⦿ Auto & Power indices are improving strength & momentum
⦿ While Banking indices are in negative momentujm, they are gradually gaining strength.
Market breadth cooling off from last week’s overbought levels. Higher timeframes retain bullish bias.
⦿ 85% → 51% above 20 SMA (neutral)
⦿ 79% → 66% above 50 SMA (positive)
⦿ 68% → 63% above 150 SMA (bullish bias)
⦿ 73% → 68% above 200 SMA (bullish bias)
⦿ 85% → 51% above 20 SMA (neutral)
⦿ 79% → 66% above 50 SMA (positive)
⦿ 68% → 63% above 150 SMA (bullish bias)
⦿ 73% → 68% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 2.02, while that for 20MA is 1.07. The 10-day cumulative ratio for stocks above 50MA is 2.34. A value >2 is good for swing trades on the long side.
The number of stocks up 20% in past 5 days has now cooled down. A fresh bullish upthrust is awaited.
On a modified Stockbee market monitor, the 5-day cumulative ratio is 1.0 and the 10-DCR is 1.7. Value more than 2 keeps them green.
Number of stocks up 13% in 34 days stays in green, which shows that the short-term phase continues to be bullish.
Number of stocks up 13% in 34 days stays in green, which shows that the short-term phase continues to be bullish.
Overall, the market is bullish till the number of stocks up 25% plus in a quarter is more than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which has once again failed to sustain double digits, & is now 6.8.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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