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 favors Nifty, indicating longer term outperformance for Nifty
vs Bonds.
Chart 3 Longer term intermarket strength as per the RS matrix is in Realty, Banks
& Energy. With Auto and Media at the bottom.
Chart
4 Most of the broader as well as sector indices are above their respective 40-week
MA.
Chart
5 Avg. & Median distance of all sectors from their 52-week closing high is
at -11.2% & -9.8%.
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