RBI MPC- Key Points
Written by MarketSmith India
We maintain a positive view of the overall market as indices trend into new highs. Further, leadership remains widespread across multiple sectors. Last week, market status was changed to an Uptrend Under Pressure due to a rise in distribution days and after Nifty breached its 21-DMA. On Wednesday, Nifty made a new high and moved above the previous rally high of 14,754. Hence, we changed the market status to a Confirmed Uptrend. However, the distribution day count remains elevated at six. Focus on high-quality ideas emerging from sound bases with a relative strength line at or near a new high. Nifty is more than 3.5% above its 21-DMA. If 21-DMA is breached, we may downgrade the status to an Uptrend Under Pressure. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions.
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We started our journey in India in 2014 to help the investors facing a crisis towards a guided approach to making well-informed investment decisions. We felt that there was an information overload when it comes to the stock market, making it quite difficult for investors to comprehend.
We are here to break that notion. Over the years, we have seen that the biggest winners of the equity markets follow certain trends. Our founder and legendary investor, William J.O'Neil studied these trends and formulated the pathbreaking methodology
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