#WeeklyIndexCheck CW40/2021
Uptrend intact. Broader markets momentum sustained. Market breadth nearing overbought on short term charts.
Midcaps & smallcaps still outperforming NIFTY. Smallcaps & Auto index have regained momentum.
Uptrend intact. Broader markets momentum sustained. Market breadth nearing overbought on short term charts.
Midcaps & smallcaps still outperforming NIFTY. Smallcaps & Auto index have regained momentum.
On Weekly RRG charts, compared to CNX500:
⦿ IT & Realty are leading, but while Realty is gaining momentum, IT is slowing down
⦿ Smallcap, Midcap & Metals stay in weakening quadrant
⦿ Media, Energy & Auto improving momentum
⦿ Infra index ready to move into leading quadrant
⦿ IT & Realty are leading, but while Realty is gaining momentum, IT is slowing down
⦿ Smallcap, Midcap & Metals stay in weakening quadrant
⦿ Media, Energy & Auto improving momentum
⦿ Infra index ready to move into leading quadrant
Market breadth overbought on short-term charts, & nearing overbought on medium-term.
⦿ 52% → 71% above 20 SMA (reduce position size)
⦿ 51% → 68% above 50 SMA (fresh buy for medium-term)
⦿ 74% → 79% above 150 SMA (bullish bias)
⦿ 77% → 81% above 200 SMA (bullish bias)
⦿ 52% → 71% above 20 SMA (reduce position size)
⦿ 51% → 68% above 50 SMA (fresh buy for medium-term)
⦿ 74% → 79% above 150 SMA (bullish bias)
⦿ 77% → 81% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 2.52, while that for 20MA is 2.75. Much better than last week & conducive for short to medium-term trades, but needs to catch its breath a little bit.
Loading suggestions...