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 Pinbar at support + a stochastics buy signal from an
oversold reading.
Chart
2 All broader indices/bond ratio
below 40-week moving average
Chart
3 Average
& Median distance of sector indices from their 52 week closing highs.
Chart
4 Many sector & broader Indices
below their 40-week moving average
Chart
5 In terms of intermarket
strength Metals still on top, have a look at the Energy index!
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