⦿ Trend: Confirmed Uptrend
⦿ Momentum: Short-term positive & improving
⦿ Breadth: Near Overbought
⦿ Bias: Bullish
⦿ Swing Confidence: 75

⦿ Nifty is in uptrend under pressure. 
⦿ Smallcap, CNX500 & Banknifty are in a confirmed uptrend.
⦿ IT & Pharma are in a confirmed downtrend.

⦿ 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.

⦿ Nifty is in an Early Upswing, while Smallcap is in a Confirmed Upswing. Both indices are in a weekly upswing.
⦿ Swing Confidence is now 75. Long-only swing traders (LOST) can take selective fresh trades with a maximum of 0.75% CAR.
⦿ Most indices are in a Confirmed Upswing.
⦿ IT & Pharma are now in downswing under strain.

⦿ Market breadth nearing overbought levels on lower timeframes.
⦿ Intermediate timeframes are now overbought.
⦿ Higher timeframes stay bullish.

⦿ On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days stays positive for 10th consecutive week. 

⦿ The long-term metric of stocks 25% plus in a quarter stays positive for 8 consecutive weeks now. 

⦿ The intermediate 25% plus in a month stays positive for 9th consecutive week.

Overall, the market is now bullish for the 8th 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 22. These levels were last seen in August 2021.

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