#WeeklyIndexCheck CW44/2021
Uptrend under pressure. Momentum still lost in Smallcaps, pharma, metal, IT, MNC, Next-50, Commodities & FMCG. Consumption index joins this red list this week. Market breadth still a bit weak, but recovering.
Uptrend under pressure. Momentum still lost in Smallcaps, pharma, metal, IT, MNC, Next-50, Commodities & FMCG. Consumption index joins this red list this week. Market breadth still a bit weak, but recovering.
On Weekly RRG charts, compared to CNX500:
⦿ Realty still leading. Media & Infra gaining momentum.
⦿ Midcap re-enters the leading quadrant
⦿ Banks & Auto continue gaining momentum
⦿ FMCG sinking down
⦿ Metals & Pharma show an early uptick from the bottom
⦿ Realty still leading. Media & Infra gaining momentum.
⦿ Midcap re-enters the leading quadrant
⦿ Banks & Auto continue gaining momentum
⦿ FMCG sinking down
⦿ Metals & Pharma show an early uptick from the bottom
Market breadth recovering.
⦿ 23% → 44% above 20 SMA (awaiting buy signal)
⦿ 43% → 56% above 50 SMA (buy signal)
⦿ 63% → 69% above 150 SMA (bullish bias)
⦿ 71% → 75% above 200 SMA (bullish bias)
⦿ 23% → 44% above 20 SMA (awaiting buy signal)
⦿ 43% → 56% above 50 SMA (buy signal)
⦿ 63% → 69% above 150 SMA (bullish bias)
⦿ 71% → 75% above 200 SMA (bullish bias)
The Ratio between stocks above & below 50MA is 1.35, while that for 20MA is 0.8. Bulls would like to see the green line cross above the red one in the 20-MA charts too.
On a modified Stockbee market monitor, The 10-day ratio is 1.7. Value >2 will signal beginning of a bull move. Overall, market is bullish as Q25bull is >Q25bear
Many thanks to @PradeepBonde
for allowing me to adapt this for Indian markets.
Please consider this still in ‘beta’
Many thanks to @PradeepBonde
for allowing me to adapt this for Indian markets.
Please consider this still in ‘beta’
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