#WeeklyIndexCheck
Uptrend still intact, deterioration in momentum, worsening market breadth.
While the margin of outperformance is decreasing, CNXSMALLCAP, CNXMIDCAP & CNX500 are still outperforming NIFTY.
CNXMIDCAP, CNXSMALLCAP & CNX500 have lost momentum this week.
Uptrend still intact, deterioration in momentum, worsening market breadth.
While the margin of outperformance is decreasing, CNXSMALLCAP, CNXMIDCAP & CNX500 are still outperforming NIFTY.
CNXMIDCAP, CNXSMALLCAP & CNX500 have lost momentum this week.
On Weekly RRG charts, compared to CNX500:
⦿ IT stays the current market leader
⦿ Realty nosediving but still leading
⦿ Smallcap, Midcap & Pharma now weakening
⦿ FMCG, MNC & Nifty gaining both strength & momentum
⦿ Banknifty & Auto still very much lagging
⦿ Metals sulking
⦿ IT stays the current market leader
⦿ Realty nosediving but still leading
⦿ Smallcap, Midcap & Pharma now weakening
⦿ FMCG, MNC & Nifty gaining both strength & momentum
⦿ Banknifty & Auto still very much lagging
⦿ Metals sulking
Market breadth deteriorating further. We are, however, oversold on very-short term charts.
⦿ From 34% → 19% above 20 SMA (oversold)
⦿ From 50% → 31% above 50 SMA (nearing oversold)
⦿ From 78% → 68% above 150 SMA (bullish bias)
⦿ From 82% → 75% above 200 SMA (bullish bias)
⦿ From 34% → 19% above 20 SMA (oversold)
⦿ From 50% → 31% above 50 SMA (nearing oversold)
⦿ From 78% → 68% above 150 SMA (bullish bias)
⦿ From 82% → 75% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 0.57, which is much less than that of last week (1.37).
This is even worse than the deteriorated values seen in March-April this year & as bad as that seen in November last year.
This is even worse than the deteriorated values seen in March-April this year & as bad as that seen in November last year.
% of stocks having weekly CCI(34) > 100 has now decreased to 29.9% from 41% last week, while stocks with weekly RSI>60 have decreased to 32% from 48% last week.
These again reflect a deterioration of market breadth from last week.
These again reflect a deterioration of market breadth from last week.
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