Note : This is not a recommendation and I am not a registered analyst,
these are just data points and an assessment of the positives and negatives
from a longer term point of view.
Nifty Weekly
Chart 1 SAVED AGAIN from a close
below the support band. No change in short term risks – a close below the
10080-10120 band and inability to move above would indicate weakness. Basic
super-trend and 40-week MA are in buy mode and above the 9700 zones. I can’t
predict worth a damn; my exit point will be a weekly close below the 40-week
MA.
Chart 2 Nifty total returns/10 year Bond index ratio is above its 40-week MA &
momentum also favours Nifty index, indicating longer term outperformance for
Nifty vs bonds.
Chart 3 Longer term intermarket strength as per the RS matrix is in Realty & Energy.
Chart
4 Pharma
index is below its 40-week MA.
Chart
5 Avg. & Median distance of all sectors from their 52-week closing high is
at -4% & -2.4%.
Chart
6 FII flows in Index futures segment is flat
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