#WeeklyIndexCheck CW36/2022
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving
⦿ Breadth: Near Overbought
⦿ Bias: Bullish
⦿ Swing Confidence: 75
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving
⦿ Breadth: Near Overbought
⦿ Bias: Bullish
⦿ Swing Confidence: 75
Trend
⦿ Nifty is in uptrend under pressure.
⦿ Smallcap, CNX500 & Banknifty are in a confirmed uptrend.
⦿ IT & Pharma are in a confirmed downtrend.
⦿ Nifty is in uptrend under pressure.
⦿ Smallcap, CNX500 & Banknifty are in a confirmed uptrend.
⦿ IT & Pharma are in a confirmed downtrend.
Momentum
⦿ The short-term momentum of most indices is positive & improving.
⦿ Long-term momentum will still take time to turn positive.
⦿ No index has negative momentum.
⦿ The short-term momentum of most indices is positive & improving.
⦿ Long-term momentum will still take time to turn positive.
⦿ No index has negative momentum.
Swing
⦿ Nifty is in an Early Upswing, while Smallcap is in a Confirmed Upswing. Both indices are in a weekly upswing.
⦿ Swing Confidence is 75. Long-only swing traders can take selective fresh trades with a maximum of 0.75% CAR.
⦿ Most indices are in a Confirmed Upswing
⦿ Nifty is in an Early Upswing, while Smallcap is in a Confirmed Upswing. Both indices are in a weekly upswing.
⦿ Swing Confidence is 75. Long-only swing traders can take selective fresh trades with a maximum of 0.75% CAR.
⦿ Most indices are in a Confirmed Upswing
Breadth
⦿ Market breadth nearing overbought levels on lower timeframes.
⦿ Intermediate timeframes are now overbought.
⦿ Higher timeframes stay bullish.
⦿ Market breadth nearing overbought levels on lower timeframes.
⦿ Intermediate timeframes are now overbought.
⦿ Higher timeframes stay bullish.
Bias
Overall, the market is bullish for the 8th 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 22. These levels were last seen in August 2021.
Overall, the market is bullish for the 8th 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 22. These levels were last seen in August 2021.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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