Market Breadth & Situational Awareness of Nifty: 1st Feb 2025 (Budget Day)

     

                         Market Breadth & Situational Awareness of Nifty: 1st Feb 2025 (Budget Day)

Today, nifty closed flat with -0.11%.

Strength has turned positive for Indian Markets today. But the main question is that will it sustain or not as the prices are still below all the major moving averages. Moreover, Nifty is close to 50DMA. Let's see will it act as a resistance or the strength in market will take the prices higher.

Today we turned positive on strength but direction is still negative.

Medium and Positional term trends are still negative.

We turned positive on the high data. This suggests that new highs are being made in the market. 

Short-term direction is positive. The short-term trend number has increased, suggesting stocks might increase in the short term (2-3 days). 

Thurst is also positive but suggesting mild thrust towards the upside.

To summarise :

Short term and thrust positive - Short-term trades can be taken as per strict risk management as long term environment is still bearish. 

Strenght + direction + highs + Medium trend - Swing trades with holding of week should be on hold as of now. We just turned positive on strength. Let's wait for the market reaction. As in StocksInShorts, we don't predict, we reach to the market moves.

Strenght + direction + highs + Positional trend - Positional trades spanning between few weeks to a month should be Avoided. Let's wait for the direction to turn positive.