WEEKLY MARKET HEALTH REPORT || 22APR 2024 Despite the sell-off, TBI Market Sentiment model indicates a significant number of stocks within the N200 basket showing strong upside momentum.
The Sentiment Forecast Plot remains positioned favorably in the upper-left quadrant, suggesting a healthy market undertone for the weak ahead.
Minor corrections are anticipated but expected to be met with buying interest.
Midcaps are likely to experience increased activity, offering momentum traders opportunities for upside breakouts.
For investors, adopting an accumulation or buy-on-dips strategy in quality names is advisable.
However, there's a risk if the market revisits Swing Lows and fails to hold them, potentially challenging the present bullish sentiment.
Data Source: www.nseindia.com
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