Mass sectoral positive change is witnessed on Monday’s trading session across daily and weekly timeframe. The positive sentimental change reflected in most of the sectoral indices on daily and weekly timeframe except FMCG sector on daily timeframe and Nifty IT, Nifty MNC, Nifty Metal on the weekly timeframe.
Interesting facts are only 2 indices (Nifty Pharma , Nifty IT index) holds above 200 MA on daily timeframe. Rest other indices still trading below 200MA. Farthest sector away from 200MA being Nifty Realty – away 26.54% from 200MA. Next to that Nifty Smallcap (-23.64%), Nifty Media(-21.35%) and Nifty Auto (-19.8%) are the deep underperformers.
What do you think? Is this a real sentimental shift in the market or just a investor trap?