Above charts shows the RRG charts of world indices w.r.t SPX 500. It is observed that Sensex is relatively having momentum build up and likely to enter from improving quadrant to leading quadrant which indicates possible out performance compared to the benchmark index S&P 500. Rest of the other markets relatively pose a falling momentum. Brazil Bovespa this week moved into the weakening quadrant indicating the possibilities of under performance. Shangai SSEC showing under performance so far with stable momentum.
Lets discuss about RRG charts of Indian Sectors w.r.t NIFTY 50. Increasing momentum observed in Nifty Realty, Nifty IT, Nifty Media & Nifty FMCG and outperforming Nifty 50 index as well whereas falling momentum in Nifty Metal, Bank Nifty CNX Energy, CNX Pharma & CNX PSU Bank.
CNX Auto, CNX Infra, CNX MNC are currently building momentum and also in the leading quadrant indicating short term out performance.