#WeeklyIndexCheck CW49/2022
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive but weakening
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 25
Market Quadrant:
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive but weakening
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 25
Trend
⦿ Most indices (including Nifty, CNX500, Midcap, Smallcap) are in a confirmed uptrend.
⦿ Auto & Power are in uptrend under pressure.
⦿ IT & Pharma are in a confirmed downtrend.
⦿ Most indices (including Nifty, CNX500, Midcap, Smallcap) are in a confirmed uptrend.
⦿ Auto & Power are in uptrend under pressure.
⦿ IT & Pharma are in a confirmed downtrend.
Momentum
⦿ NiftyJr, Banknifty & Midcap have positive & improving momentum.
⦿ Nifty, Smallcap & CNX500 have positive but worsening momentum.
⦿ Power, Auto & Energy have negative & worsening momentum.
⦿ NiftyJr, Banknifty & Midcap have positive & improving momentum.
⦿ Nifty, Smallcap & CNX500 have positive but worsening momentum.
⦿ Power, Auto & Energy have negative & worsening momentum.
Swing
⦿ Nifty is in Early downswing. Smallcap is in upswing under strain. Both indices are in a weekly upswing.
⦿ Swing Confidence is 25. Long-only swing traders would be 25% invested now.
⦿ FMCG & PSUbank are still in confirmed upswing.
⦿ Nifty is in Early downswing. Smallcap is in upswing under strain. Both indices are in a weekly upswing.
⦿ Swing Confidence is 25. Long-only swing traders would be 25% invested now.
⦿ FMCG & PSUbank are still in confirmed upswing.
Breadth
⦿ Market breadth still strong on all timeframes, but has slightly weakened from last week.
⦿ Intermediate timeframes still in buy mode.
⦿ Higher timeframes stay bullish.
⦿ Market breadth still strong on all timeframes, but has slightly weakened from last week.
⦿ Intermediate timeframes still in buy mode.
⦿ Higher timeframes stay bullish.
Bias
Overall, the market is bullish for 21th 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 3.4, which is lesser than last week.
Overall, the market is bullish for 21th 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 3.4, which is lesser than last week.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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