Technicals for week ending – 17th March 2017.

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

All the basic filters/scans indicate a positive environment. Nifty, Bank-Nifty, Mid & Small cap indices are in all time high territory – hence no point standing in front of a fast moving train and try and catch the top.

Chart 1 Nifty & all indices except Pharma are above their 40-week MA.

Chart 2 Nifty-Bond ratio is above its 40-week MA.

Chart 3 Longer term intermarket strength continues in Metals & Energy. Auto has lost a lot of relative strength.

Chart 4 Avg. & Median distance of all sectors from their 52 week closing highs is at -2.4% & 0%

Chart 5 FII remain long in Index futures.