Nifty Energy is in a one way street since the start of Sep 2015. Almost 100% return in the Energy index since then. Since mid of Oct 2017 Energy index is consolidating in a broader band of 13750-14670 range. Momentum index is on a continuous decline in the last 4 months indicating lack of interest from the market participants. Lack of momentum inidcates long term serious money is missing in the last 4 months.
Energy sector is showing signs of trend exhaustion and high probabilities are there that trend reversal could be in progress. Nifty Energy delivered a YTD performance of 34.26% and 1 Year performance of 41.10%.