- Leading stocks across the sectors are progressing well and have reclaimed key moving averages or are off lows over the last two to three sessions. Also, market breadth has improved on comparatively higher volume.
- Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. Stocks that are breaking out of consolidation, have higher relative strength, and superior fundamentals can do well.
- We will start calculating the distribution day count and look for weaknesses in the market if any. We may downgrade the status to an Uptrend Under Pressure if the distribution day count increases and Nifty breaches the key support level.
What do you think? Please email us any questions or comments.
Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.