India Sectoral Indices View

Auto Sector

CMP: 6307 The candles on weekly charts shows weakness. Though daily charts are still strong.

The index is able to hold the 50 Day MA.



Market Perform Major support at 6000 levels which is the old top.





Cap Goods

CMP: 12875 The index is at weekly support of 21 WMA of 12900. The index is below the 50 DMA.

Daily support is at 12000 where the base formation is.



Under Perform Any bounce to 13000 above levels can be shorted as fibonacci breakout has failed.





CNXBank Index

CMP: 8410 The index turned down from the old congestion of 9500. Support is at 8000 levels.

Strength is daily as it is above 50 DMA at 8250.



Market Perfrom Can be brought at 8000 levels as major support is there.



FMCG Index

CMP: 2808 Weekly candles suggest some consolidation at these levels.

Weekly support at 2700. Strongest index among all the sectoral indices.



Market OutPerfom Short term weakness can be brought.





Healtcare Index

CMP: 4377 Weekly candles condolidating. Last high of 4600 is resistance.

Daily prices at support of 21 MA of 4400. Support at 4200.



Market Perform Short term weakness to 4200 can be brought.





IT Index

CMP: 4425 There is clear top formation at 4600 for some time on weekly charts.

Daily 50 MA at 4350 is pivot support now. Break of it support is at 4000 levels.



Market Perform Can be brought at dips to 4000 levels.





Metal Index

CMP: 13940 Weekly support at 13000 levels. Daily charts also at support levels of 50 MA of 13800.

Any short term bounce can be shorted as RSI divergence is there.





Market Perform Daily support is at 13500 levels where buying can be done.



Oil & Gas Index

CMP: 9434 The index is has turned down from 61.8% retracement levels two times.

Weekly major support is at 8500 levels. Daily prices below 50 DMA.



Market Underpeform The index can be brought only at 8500 levels.





Power Index

CMP: 2915 Weekly breakout has failed. Index has not crossed the 50% fibonacci levels.

Support is at 2600 levels.



Market UnderPeform Expect major support at 2650 levels.





Realty Index

CMP: 3827 Breakout on weekly resistance has failed. Weekly support is at 3500.

Weekly 50 MA is at 2850 levels which can be support for the fall.



Market UnderPerform Weakest sector among all. Major support is at 3000 levels.