#WeeklyIndexCheck CW38/2021
Uptrend intact. Broader markets momentum improving, but market breadth slightly worsening.
With the margin of outperformance decreasing, midcaps & smallcaps still outperforming Nifty. Smallcaps trying to regain momentum.
Uptrend intact. Broader markets momentum improving, but market breadth slightly worsening.
With the margin of outperformance decreasing, midcaps & smallcaps still outperforming Nifty. Smallcaps trying to regain momentum.
On Weekly RRG charts, compared to CNX500:
⦿ IT & Realty leading, but while Realty is regaining the lost momentum, IT is slowing down
⦿ Media, CPSE & Energy begin early uptick
⦿ Banknifty, CNXFIN & Infra firmly in improving quadrant
⦿ Consumption index eyeing leading quadrant
⦿ IT & Realty leading, but while Realty is regaining the lost momentum, IT is slowing down
⦿ Media, CPSE & Energy begin early uptick
⦿ Banknifty, CNXFIN & Infra firmly in improving quadrant
⦿ Consumption index eyeing leading quadrant
Market breadth slightly worsening on short & medium-term timeframes.
⦿ 69.9% → 51% above 20 SMA (fresh buy)
⦿ 47.9% → 45% above 50 SMA (no fresh buy)
⦿ 75.7% → 73.5% above 150 SMA (bullish bias)
⦿ 78.9% → 77.25% above 200 SMA (bullish bias)
⦿ 69.9% → 51% above 20 SMA (fresh buy)
⦿ 47.9% → 45% above 50 SMA (no fresh buy)
⦿ 75.7% → 73.5% above 150 SMA (bullish bias)
⦿ 78.9% → 77.25% above 200 SMA (bullish bias)
The ratio between stocks above & below 50MA is 0.9, while that for 20MA is 1.07. Not a very conducive environment for short to medium-term trades.
Loading suggestions...