#WeeklyIndexCheck CW32/2022
Market Quadrant
⦿ Trend: Confirmed Uptrend
⦿ 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: Confirmed Uptrend
⦿ 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, NiftyJR & Banknifty) stay in a confirmed uptrend.
⦿ Smallcap index is yet to enter a confirmed uptrend.
⦿ No index in confirmed downtrend.
⦿ Major indices (Nifty, CNX500, Midcap, NiftyJR & Banknifty) stay in a confirmed uptrend.
⦿ Smallcap index is yet to enter a confirmed uptrend.
⦿ No index in confirmed downtrend.
Momentum
⦿ Almost all indices (including Nifty, Smallcap, NiftyJr, BankNifty, CNX500 & Midcap) now have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Auto & FMCG indices take a breather.
⦿ Almost all indices (including Nifty, Smallcap, NiftyJr, BankNifty, CNX500 & Midcap) now have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Auto & FMCG indices take a breather.
Swing
⦿ Most indices (including Nifty & Smallcap) are in a Confirmed upswing.
⦿ Swing Confidence stays at 100. Long-only swing traders can take fresh trades with a 1% CAR.
⦿ MNC & Pharma are under some strain, while Realty, FMCG & Media are in an early downswing.
⦿ Most indices (including Nifty & Smallcap) are in a Confirmed upswing.
⦿ Swing Confidence stays at 100. Long-only swing traders can take fresh trades with a 1% CAR.
⦿ MNC & Pharma are under some strain, while Realty, FMCG & Media are in an early downswing.
Breadth
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are still not overbought.
⦿ Higher timeframes are also gradually improving.
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are still not overbought.
⦿ Higher timeframes are also gradually improving.
Bias
Overall, the market is now bullish for the 4th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus.
The ratio between the two is the primary breadth ratio, which is now 7.6. These levels were last seen in Jan 2022.
Overall, the market is now bullish for the 4th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus.
The ratio between the two is the primary breadth ratio, which is now 7.6. These levels were last seen in Jan 2022.
That’s all for CW32/2022. If you'd like to read this as a newsletter, find it here:
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