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 in buy mode and I am holding Niftybees.
Chart 2 Nifty total returns/10 year Bond index ratio is ABOVE its 40-week MA &
momentum also now favours Nifty, indicating longer term outperformance for Nifty
vs Bonds.
Chart 3 Longer term intermarket strength as per the RS matrix is in Realty, Banks
& IT. With Metals and Media at the bottom.
Chart
4 Most of the broader as well as sector indices are BELOW their respective 40-week
MA. Previous instances have seen weak equity market performance going forward.
Chart
5 Avg. & Median distance of all sectors from their 52-week closing high is
at -15.1% & -11.7%.
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