This relative study is done using RRG Graph from Market Analyst 7. Here RRG Graph is used to study the movements of Sectors relative to CNX Nifty Index to identify under-performing and outperforming sectors (shorter term) relative to the index.
Bank Nifty, CNX Finance, CNX Auto are the sectors are in underperforming mood with Bank Nifty and CNX Finance with a descent momentum. And the recent deep underperforming sectors like CNX IT, CNX Pharma and CNX Reality can have a possible sector rotation in shorter term and in the process gaining momentum and could take some time to get out of underperforming Nifty.
Momentum is falling in CNX Infra, CNX Energy, CNX PSU Bank, CNX Metal and are the sectors likely to be underperform in the shorter term. The overall sector outlook is mixed