#WeeklyIndexCheck CW30/2022
Market Quadrant:
⦿ Trend: Rally Attempt
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Lower timeframes neutral, higher still bearish
⦿ Bias: Bullish
⦿ Swing Confidence: 100 (Confirmed Upswing)
Market Quadrant:
⦿ Trend: Rally Attempt
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Lower timeframes neutral, higher still bearish
⦿ Bias: Bullish
⦿ Swing Confidence: 100 (Confirmed Upswing)
Trend
⦿ Major indices (Nifty, CNX500, Midcap, Smallcap & Banknifty) are in a rally attempt.
⦿ Finance & Banking indices are very close to entering a confirmed uptrend
⦿ No index in confirmed downtrend.
⦿ Major indices (Nifty, CNX500, Midcap, Smallcap & Banknifty) are in a rally attempt.
⦿ Finance & Banking indices are very close to entering a confirmed uptrend
⦿ No index in confirmed downtrend.
Momentum
⦿ After 35 consecutive weeks of negative momentum, Nifty & Smallcap indices now have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ No index now has negative & worsening momentum.
⦿ After 35 consecutive weeks of negative momentum, Nifty & Smallcap indices now have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ No index now has negative & worsening momentum.
Swing
⦿ All indices are in a Confirmed upswing.
⦿ Swing Confidence now is 100. Long-only swing traders can take fresh trades with a 1% CAR.
⦿ Amongst the major indices, Smallcap index seems to be lagging in its upswing behind Midcap & Nifty.
⦿ All indices are in a Confirmed upswing.
⦿ Swing Confidence now is 100. Long-only swing traders can take fresh trades with a 1% CAR.
⦿ Amongst the major indices, Smallcap index seems to be lagging in its upswing behind Midcap & Nifty.
Breadth
Market breadth further improving & now neutral on lower timeframes.
Intermediate timeframes gave a fresh buy signal & are still not overbought. This indicates more room for upside in the near-term.
Higher timeframes also improving, but still in bearish territory.
Market breadth further improving & now neutral on lower timeframes.
Intermediate timeframes gave a fresh buy signal & are still not overbought. This indicates more room for upside in the near-term.
Higher timeframes also improving, but still in bearish territory.
Bias
Overall, the market is now bullish for the second consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 2.6.
Overall, the market is now bullish for the second consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 2.6.
That’s all for CW30/2022. If you'd like to read this as a newsletter, find it here:
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