Sensex and Gaps
Sensex in February month had lost almost 6.9% and this is the 6th consecutive month sensex is making lower lows and lower highs. And the current down slide from OCT 2015 had left 4 gaps left unfilled in Sensex around 27318, 25357, 24196, 23361. So are we testing the first gap zone 23361 this Budget 2016?
Relative Study
RRG Charts shows the relative study of NSE sectoral indices with respect to CNX Nifty. Metals, Realty, Small Cap, Energy, Media, IT are gaining Momentum relative to CNX Nifty
CNX Energy and CNX Metal Weekly Sentiment
CNX Energy and CNX Metals are the two sectors where the sentiment turned positive on the weekly charts and also relatively outperforming CNX Nifty in the current downfall. In FEB 2016 CNX Metals lost -1.7% and outperforming Sensex greatly. However CNX Energy lost -9.4% this month but still the weekly sentiment turned positive.
CNX Energy Weekly Charts
CNX Metal Weekly Charts
Related Readings and Observations
State of the Market : May Expiry Overview The Nifty Futures and Bank Nifty Futures continued to move up last week, gaining 2.2% and 1.0% respectively on close. And Bank Nifty is relatively under-performing in the recent uptrend. […]- Most of the Sectors Sentiment turned Negative Out of 28 sectors/indices that we are monitoring 25 sectors, daily sentiment turned negative since last Wednesday and only 3 sectors (Media, Pharma, Realty) are holding with positive […]
- India’s Stock Market: Nothing “Random” About It Every day, the mainstream financial experts attempt to explain away fluctuations in stock market trends with some "fundamental factor" du jour, all of which boil down to this: good news […]
- CNX Metal in a Emotional Buyers Market If you frequently track gaps in Nifty Metal (Spot) you would understand that there are so far 10 unfaded gaps since the start of March 2016. Current leg of rally is almost 10 months old […]
- RRG Study : World Indices and Indian Sectors Aug 2016 Outlook It is observed that Sensex is relatively having momentum build up and likely to enter from improving quadrant to leading quadrant which indicates out performance compared to the benchmark […]
- Nifty and Bank Nifty Futures Weekly Sentiment Update Last friday China Cuts the Interest rate for the sixth time in this year. Global Markets cheered on last friday. We could expect one more sentimental Gap Up on Monday in Nifty and Bank […]
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