#WeeklyIndexCheck CW34/2022
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Higher timeframes almost bullish
⦿ Bias: Bullish
⦿ Swing Confidence: 50
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving, long-term negative but improving
⦿ Breadth: Higher timeframes almost bullish
⦿ Bias: Bullish
⦿ Swing Confidence: 50
Trend
⦿ Major indices (Nifty, CNX500, Midcap, NiftyJR & Banknifty) stay in a confirmed uptrend.
⦿ Smallcap index is yet to enter a confirmed uptrend.
⦿ IT index goes back to a confirmed downtrend.
⦿ Major indices (Nifty, CNX500, Midcap, NiftyJR & Banknifty) stay in a confirmed uptrend.
⦿ Smallcap index is yet to enter a confirmed uptrend.
⦿ IT index goes back to a confirmed downtrend.
Momentum
⦿ Most major indices (including Smallcap, NiftyJr, BankNifty, CNX500 & Midcap) have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Nifty now has positive but worsening momentum.
⦿ Most major indices (including Smallcap, NiftyJr, BankNifty, CNX500 & Midcap) have positive & improving momentum.
⦿ Long-term momentum will still take time to turn positive.
⦿ Nifty now has positive but worsening momentum.
Swing
⦿ Nifty is in Early Downswing, while Smallcap is in a Confirmed Upswing.
⦿ Swing Confidence is now 50. Long-only swing traders can take fresh trades with a 0.5% CAR.
⦿ Most indices are in a upswing under strain.
⦿ IT & Pharma are in a confirmed downswing.
⦿ Nifty is in Early Downswing, while Smallcap is in a Confirmed Upswing.
⦿ Swing Confidence is now 50. Long-only swing traders can take fresh trades with a 0.5% CAR.
⦿ Most indices are in a upswing under strain.
⦿ IT & Pharma are in a confirmed downswing.
Breadth
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are nearing overbought levels.
⦿ Higher timeframes almost in bullish territory now.
⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are nearing overbought levels.
⦿ Higher timeframes almost in bullish territory now.
Bias
Overall, the market is now bullish for the 6th 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 19.4. These levels were last seen in August 2021.
Overall, the market is now bullish for the 6th 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 19.4. These levels were last seen in August 2021.
That’s all for CW34/2022. If you'd like to read this as a newsletter, find it here:
world.hey.com
world.hey.com
Loading suggestions...