AUG 6, 2023
nitin
⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive but worsening
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 50
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TREND
⦿ Majority of indices are in a confirmed uptrend.
⦿ Nifty & Banknifty, along with Auto & Realty join IT index in uptrend under pressure.
⦿ There is still no index in a confirmed
downtrend.
MOMENTUM
⦿ Majority of the indices have positive but worsening momentum.
⦿ Healthcare, Media, Power, IT & PSE have positive & improving momentum.
⦿ There is still no index with negative momentum.
SWING
⦿ Both Nifty & Smallcap are in a weekly upswing. While Smallcap is still in a confirmed upswing, Nifty is now in a confirmed downswing. Swing Confidence is 50.
⦿ After the 3rd Ex (Early Downswing) candle, the 4-month swing is finally over. Nearest support is now 19300.
⦿ Midcap, Smallcap & Pharma/Healthcare indices are still in a confirmed upswing.
BREADTH
⦿ Market breadth stays strong.
⦿ Short-term timeframes still within neutral range.
⦿ Intermediate-term timeframes stay in buy mode.
⦿ Higher timeframes stay comfortably bullish.
BIAS
Currently, the bias is bullish.
⦿ NIFTY is above its 50-day MA.
⦿ Net New Highs stay positive for 3-consecutive days.
Relative Strength (MARS)
⦿ Sectoral indices are outperforming the benchmark Nifty.
⦿ Media, Pharma/Healthcare & Smallcap are the top indices showing absolute out-performance.
⦿ FMCG & Banknifty show under-performance.
That’s all for this week!
him
This is amazing @nitin 🫡
Okay to ask a few questions?
nitin
Sure 👍
him
I’ve been advised multiple times to just invest in indexes (I hope I’m terming it right). Is that a good thing?
nitin
Himanshu Khanna
I’ve been advised multiple times to just invest in indexes (I hope I’m terming it right). Is that a good thing?
Index funds are supposed to mirror the indices. Give or take some tracking errors & minor expense ratios, they’ll more or less give you returns closer (slightly less) to their underlying index. Now this is fine if you are content with this.
Stock traders, & mutual funds (that are not index funds) try to outperform the indices. This outperformance is called alpha, & can be generated by active investing.
So it depends on how big is your ask, & whether you have the time & skill to pursue that. If yes, then there’s no stopping you, & your investment strategy should try to generate alpha. But if no, then index funds are good enough, & even better than a lot of active funds out there.
him
Thanks so much @nitin
This is a great share.
I definitely don’t have time or skill. That’s why the question.
Thanks again 🙏🏼
AUG 7, 2023
nitin
My pleasure 😇
I was wondering why we do not have a #finance or #markets or #stocks category in Openvy.
him
Nitin R
My pleasure 😇
I was wondering why we do not have a #finance or #markets or #stocks category in Openvy.
We shall have them soon. The idea is to start with less number of categories and add them as we go along.
nitin
Himanshu Khanna
We shall have them soon. The idea is to start with less number of categories and add them as we go along.
Oh that’s great! 👍
❤️
him
Feel free to ask more queries @nitin
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