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. Strategy 1 & 2 based on
Nifty spot data remain long and I am holding Niftybees. Bond strategy also is
in buy mode and I am holding a 10Y bond fund. Green line is up means buy mode
and green line at 0 means exit mode.
Chart 2 Nifty total returns/10 year Bond index ratio is ABOVE its 40-week MA &
momentum has shifted to Nifty, both indicating longer term outperformance of Nifty
vs Bonds.
Chart 3 Longer term intermarket strength as per the RS matrix is in Banks, Realty
& Metals. With Pharma and Media at the bottom.
Chart
4 8 of the broader indices are above their respective 40-week MA, and 9
of the sector indices are above their respective 40-week MA. Forward returns on
Nifty have generally been positive at these readings.
Chart
5 Avg. & Median distance of all sectors from their 52-week closing high is
at -7.9% & -5.1%.
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