#WeeklyIndexCheck CW35/2021
Uptrend intact. Broader markets' momentum & market breadth improving.
While the margin of outperformance is decreasing, midcaps & smallcaps are still outperforming NIFTY, & have now started to regain the lost momentum.
Uptrend intact. Broader markets' momentum & market breadth improving.
While the margin of outperformance is decreasing, midcaps & smallcaps are still outperforming NIFTY, & have now started to regain the lost momentum.
On Weekly RRG charts, compared to CNX500:
⦿ IT & Realty are leading the current market
⦿ Smallcap, Midcap & Metals stay in the weakening quadrant
⦿ FMCG & Nifty gaining both strength & momentum
⦿ Banknifty & Infra indices start their move towards the Improving quadrant
⦿ IT & Realty are leading the current market
⦿ Smallcap, Midcap & Metals stay in the weakening quadrant
⦿ FMCG & Nifty gaining both strength & momentum
⦿ Banknifty & Infra indices start their move towards the Improving quadrant
Market breadth improving. A buying signal on short-term charts, as the market breadth became oversold, & then moved above 50.
⦿ 28% → 56% above 20 MA (buying signal)
⦿ 35% → 43% above 50 MA (improving)
⦿ 70% → 75% above 150 MA (bullish)
⦿ 75% → 78% above 200 MA (bullish)
⦿ 28% → 56% above 20 MA (buying signal)
⦿ 35% → 43% above 50 MA (improving)
⦿ 70% → 75% above 150 MA (bullish)
⦿ 75% → 78% above 200 MA (bullish)
The Ratio between stocks above & below 50MA is 0.99, which is much better than that of last week (0.67). We would still like that green line to again cross above the red one.
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