#WeeklyIndexCheck CW33/2022
Market Quadrant
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Higher timeframes about to turn bullish
⦿ Bias: Bullish
⦿ Swing Confidence: 25 (Upswing under strain)
Market Quadrant
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Higher timeframes about to turn bullish
⦿ Bias: Bullish
⦿ Swing Confidence: 25 (Upswing under strain)
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) have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Auto & FMCG indices have positive but worsening momentum.
⦿ Almost all indices (including Nifty, Smallcap, NiftyJr, BankNifty, CNX500 & Midcap) have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Auto & FMCG indices have positive but worsening momentum.
Swing
⦿ Both Nifty & Smallcap are in an Upswing under strain.
⦿ Swing Confidence is now 25. Long-only swing traders can take fresh trades with a 0.25% CAR.
⦿ FMCG, PSUbank, Pharma & Media are in an early downswing.
⦿ Both Nifty & Smallcap are in an Upswing under strain.
⦿ Swing Confidence is now 25. Long-only swing traders can take fresh trades with a 0.25% CAR.
⦿ FMCG, PSUbank, Pharma & Media are in an early downswing.
Breadth
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are nearing overbought levels.
⦿ Higher timeframes about to turn bullish.
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are nearing overbought levels.
⦿ Higher timeframes about to turn bullish.
Bias
Overall, the market is now bullish for the 5th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25%.
The ratio between the two is the primary breadth ratio, which is now 12.4. These levels were last seen in January 2022.
Overall, the market is now bullish for the 5th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25%.
The ratio between the two is the primary breadth ratio, which is now 12.4. These levels were last seen in January 2022.
That’s all for CW33/2022. If you'd like to read this as a newsletter, find it here:
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