#WeeklyIndexCheck CW41/2021
Uptrend intact. Broader markets momentum sustained. Market breadth getting overbought on short & medium-term charts.
Midcaps & smallcaps still outperforming NIFTY. PSUbank index has regained momentum.
Uptrend intact. Broader markets momentum sustained. Market breadth getting overbought on short & medium-term charts.
Midcaps & smallcaps still outperforming NIFTY. PSUbank index has regained momentum.
On Weekly RRG charts, compared to CNX500:
⦿ Realty is leading & gaining momentum. IT slowing down. Infra index enters the leading quadrant
⦿ Metals enter the lagging quadrant
⦿ Auto, PSUbanks & Midcaps gaining momentum
⦿ Media & Energy ready to move into leading quadrant
⦿ Realty is leading & gaining momentum. IT slowing down. Infra index enters the leading quadrant
⦿ Metals enter the lagging quadrant
⦿ Auto, PSUbanks & Midcaps gaining momentum
⦿ Media & Energy ready to move into leading quadrant
Market breadth gradually getting overbought on short-term & medium-term charts.
⦿ 71% → 76% above 20 SMA (reduce position size)
⦿ 68% → 74% above 50 SMA (reduce position size)
⦿ 79% → 80% above 150 SMA (bullish bias)
⦿ 81% → 82% above 200 SMA (bullish bias)
⦿ 71% → 76% above 20 SMA (reduce position size)
⦿ 68% → 74% above 50 SMA (reduce position size)
⦿ 79% → 80% above 150 SMA (bullish bias)
⦿ 81% → 82% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 3.4, while that for 20MA is 3.6. Higher than last week, needs to catch its breath a little bit.
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