#WeeklyIndexCheck - Cautiously Bullish
Long-term uptrend intact, but momentum is weakening.
CNXSMALLCAP, CNXMIDCAP & CNX500 are outperforming NIFTY. All are in an uptrend, but Nifty & CNX500 are showing weakening of momentum.
Long-term uptrend intact, but momentum is weakening.
CNXSMALLCAP, CNXMIDCAP & CNX500 are outperforming NIFTY. All are in an uptrend, but Nifty & CNX500 are showing weakening of momentum.
On Weekly RRG charts, compared to CNX500, indices which are leading/improving & gaining relative momentum:
⦿ Realty
⦿ IT
⦿ Smallcap
⦿ FMCG
⦿ Consumption
⦿ Realty
⦿ IT
⦿ Smallcap
⦿ FMCG
⦿ Consumption
Market breadth is receiving some much-needed cooling-down on lower timeframes:
⦿ From 58% → 55% above 20 SMA (cooling down)
⦿ From 75% → 71% above 50 SMA (still overbought)
⦿ From 86% → 84% above 150 SMA (bullish bias)
⦿ From 87% → 86% above 200 SMA (bullish bias)
⦿ From 58% → 55% above 20 SMA (cooling down)
⦿ From 75% → 71% above 50 SMA (still overbought)
⦿ From 86% → 84% above 150 SMA (bullish bias)
⦿ From 87% → 86% above 200 SMA (bullish bias)
% of stocks having weekly CCI(34) > 100 is 58%, & assures an overall healthy market breadth.
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