#WeeklyIndexCheck CW37/2021
Uptrend intact. Broader markets momentum & long-term market breadth improving.
Midcaps now back in momentum, & along with the smallcaps, still outperforming NIFTY.
Uptrend intact. Broader markets momentum & long-term market breadth improving.
Midcaps now back in momentum, & along with the smallcaps, still outperforming NIFTY.
On Weekly RRG charts, compared to CNX500:
⦿ IT is leading, but Realty beginning to lose momentum
⦿ PSU bank index & Energy begin early uptick
⦿ Banknifty & Infra now crossover to the improving quadrant
⦿ Nifty gaining both strength & momentum
⦿ IT is leading, but Realty beginning to lose momentum
⦿ PSU bank index & Energy begin early uptick
⦿ Banknifty & Infra now crossover to the improving quadrant
⦿ Nifty gaining both strength & momentum
Market breadth improving on medium & long-term charts. Short-term charts cooling down after getting oversold during the week.
⦿ 64% → 69% above 20MA (nearing oversold)
⦿ 46% → 47% above 50MA (improving)
⦿ 75% → 75% above 150MA (bullish)
⦿ 78% → 78% above 200MA (bullish)
⦿ 64% → 69% above 20MA (nearing oversold)
⦿ 46% → 47% above 50MA (improving)
⦿ 75% → 75% above 150MA (bullish)
⦿ 78% → 78% above 200MA (bullish)
The Ratio between stocks above & below 50MA is 1.1, which is marginally more than that of last week (1.06). The green line has just managed to cross above the red one.
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