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. Longer term trend model
based on weekly prices is sitting in cash. I am holding liquidbees ETF now. The
India 10 year bond total return index is still in an uptrend.
Chart 2 Nifty total returns/10 year Bond index ratio is BELOW its 40-week MA &
momentum also now favours Bond index, indicating longer term outperformance for
bonds vs Nifty.
Chart 3 Longer term intermarket strength as per the RS matrix is in FMCG, IT
& Banks. With Auto and Media at the bottom.
Chart
4 Damage in other indices as most are below their respective 40-week
MA.
Chart
5 Avg. & Median distance of all sectors from their 52-week closing high is
at -18% & -17.8%.
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