APPEARANCE Register the largest winnings in a single day in the current history. Markets maintain profits and build them ahead of the week. While good action has moved to a 737-point range, the order is dipped. India Vix went out of 23.49% to 16.55 a weekend. The heading head, also ends the week with a strong weekly gained in 1011.80 points (+ 4.21%).
After taking a breath of the week before it, the good refuly went on his vertical. From a technical view, its good support levels are higher than 50-weeks to be harvested on April 7, when reacting tariffs in 300 points in the last six weeks.
Markets will continue their undergoing a waste
Returns take place, as long as they keep their head over the 24000 levels. Markets are in a juncture where they do not show signs of quitting; They can also be found strong Sector rotation That may result in changing leaders in the coming weeks.
The current technical setup calls for effective sector rotation and careful keeping the acquisitions of existing investments.
The level of 25175 and 25350 are likely to act as opposing the coming week. Support will arrive at 24800 and 24630 levels. Trading range is more likely to remain larger than usual.
Senemian RSI stands at 61.90; It marks a new 14-time high, suffering.
RSI remained neutral and did not show any variation against price. The weekly MACD remains suffering and above its signal line.
The standard analysis of the weekly chart shows that the price ends above the surface Bander Band. While we may see a temporary pullback of the price inside the band, it has raised the possibility of a sustainable trend stay intact.
The new upmove also dragged into the level of support higher for the goodies of 24000. Also well-reached increase in the level of upside down 24700.
Overall, markets are in a solid drop; However, it is also the witness of the rotation sector that can cause different sectors to lead leadership to continue.
It is possible to see sectors such as FMCG, Auto, Pharma, etc., which lowers the new development of their relative.
It is made important to protect those who have those in investments at the current level. It is recommended to follow this pattern in a very selection manner while careful income protection.
In our view of relative graphs® graphs, we compare different sectors against CNX500 (good 500 index), which represents over 95% of listed stocks.
Etmarkes.comEtmarkes.comRotation Rotation Graphs (RRG) Show those commodities, financial services, and good bank index within the lead quadrant continues to withdraw their relative momentum.
Apart from this, FMCG, consumption, PSE, and infrastructure index are also in the lead quadrant. These groups are likely to exceed the wider market.
The Good Services Sector Service and Metal Index rotates within the weak
Quadrant. It means a slowdown of their relative meaning; However, individual stock performance-specific can continue to see.
While the good pharma index remained within the city quadrant, the auto and the IT
The index is also within the missing quadrant. However they develop their relative
momentum against the wider market. The good index of realty rolled inside the quadrant improvement. Energy, Midcap 100, and the media index also remains to improve quadrant.
Important Reminder: RRGTM charts show relative strength and momentum of a group of stocks. In the above chart, they show the relative achievement against the NIFTY500 Index (wider market) and should not be used directly as buy signals or sell signals.
Milan Vanishnav, CMT, MSA, a technical analyst consultant and founder ofnequityresearch.Asia and Chartwizard.ae and based on Vadodara. He can be reached at [email protected]
