⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive but worsening
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 25

⦿ Most major indices (including Nifty, CNX500, Midcap & Smallcap) stay in a confirmed uptrend
⦿ NiftyJr is now under uptrend under pressure, while Banknifty is still in rally attempt.
⦿ PSUbank, IT & OilGas are the only indices in confirmed downtrend.

⦿ Majority of the indices now have positive but worsening momentum.
⦿ Pharma, IT & Healthcare have positive & improving momentum.
⦿ PSUbank is the only index with negative & worsening momentum.

⦿ Nifty is in early downswing, but Smallcap is in upswing under strain. Both Nifty & Smallcap are in weekly upswing. Swing Confidence is 25.
⦿ After missing ATH resistance of 18887.6 by 1 point, Nifty now is pulling back to the 20-day MA, with supports at 18650, 18450 & 18200.
⦿ Majority of indices are in an early downswing.

⦿ Market breadth less strong than last week.
⦿ Short-term timeframes are now at neutral levels.
⦿ Intermediate-term timeframes stay in buy mode.
⦿ Higher timeframes stay comfortably bullish.

Currently, the bias is bullish.

⦿ NIFTY is above its 50-day MA.

⦿ Net New Highs stay positive for 3-consecutive days.

⦿ Broader markets are outperforming the benchmark Nifty.

⦿ Healthcare, Consumption & Realty are the top indices showing absolute out-performance.

⦿ PSUBank is the worst-performing index, showing absolute under-performance.

That’s all for this week. If you'd like to know when I publish something new, just subscribe to my newsletter and you'll get the latest sent direct to you.

👉 Follow me on Twitter