⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive & improving
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 100

⦿ Most indices (including Nifty, CNX500, Midcap, Smallcap) stay in a confirmed uptrend.
⦿ NiftyJr & FMCG also enter a confirmed uptrend.
⦿ Pharma is the only index in a confirmed downtrend.

⦿ Most major indices (including Nifty, Smallcap, Midcap & CNX500) have positive & improving momentum.
⦿ Banknifty & PVTbank have positive but worsening momentum.
⦿ Power is the only index with negative & worsening momentum.

⦿ Both Nifty & Smallcap are in confirmed upswing. Both indices are also in a weekly upswing.
⦿ Swing Confidence is 100. Long-only swing traders would be 100% invested.
⦿ Most indices are in or near confirmed upswings.
⦿ Power is the only index still in a downswing.

⦿ Market breadth now strong on all timeframes. 
⦿ Intermediate timeframes have given a fresh buy signal. 
⦿ Higher timeframes stay bullish.

⦿ On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days stays positive for 5th consecutive week.

⦿ The intermediate 25% plus in a month stays positive for 21th consecutive week.

⦿ The long-term metric of stocks 25% plus in a quarter stays positive for 20 consecutive weeks now.

Overall, the market is bullish for 20th 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 4.3, which is better than last week.

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