#WeeklyIndexCheck CW36/2021
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 keep on leading the current market
⦿ Nifty & CNXFIN gaining both strength & momentum
⦿ Banknifty, Infra & Energy have gained positive momentum
⦿ Private bank index looking much stronger than PSU bank index
⦿ IT & Realty keep on leading the current market
⦿ Nifty & CNXFIN gaining both strength & momentum
⦿ Banknifty, Infra & Energy have gained positive momentum
⦿ Private bank index looking much stronger than PSU bank index
Market breadth improving. Short-term charts allow fresh buying, while medium-term charts need more improvement.
⦿ 56% → 64% above 20 SMA (buying signal)
⦿ 43% → 46% above 50 SMA (improving)
⦿ 75% → 75% above 150 SMA (bullish bias)
⦿ 78% → 78% above 200 SMA (bullish bias)
⦿ 56% → 64% above 20 SMA (buying signal)
⦿ 43% → 46% above 50 SMA (improving)
⦿ 75% → 75% above 150 SMA (bullish bias)
⦿ 78% → 78% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 1.06, which is marginally more than that of last week (0.99). We would still like that green line to again cross above the red one.
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