Market Breadth & Situational Awareness of Nifty: 3rd Feb 2025
The price of Nifty50 is still below all the major moving averages. As discussed in last article, the nifty took resistance from 50DMA.
Strength is positive but direction is still negative.
Medium and Positional term trends are still negative.
Highs stand at -1.5.
Short-term direction is positive with negative thrust. It suggest market is still choppy and there is no well-defined trend and momentum in the market.
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. Short-term direction is positive but thrust is negative.
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.
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