We can found the state of the market by knowing the state of major stocks. By doing this we can get to know what's the undercurrent of any move.
With this understanding I tried to get the state of Market from the top 100 liquid stocks traded in futures.
The methodology used is based on the price action with the Moving Average and Macd. If have earlier used the strategy in the post about sectors here. I will write a detail post about this strategy later.
The results are complied on Buy, Neutral and Sell basis.
As of today the results are as follows.
This shows roughly equal number of buy and sell with about 15% stocks neutral. There seems to be no inclination towards any side.
The conclusion that can be drawn is that the markets could remain range bound for some time.
With this understanding I tried to get the state of Market from the top 100 liquid stocks traded in futures.
The methodology used is based on the price action with the Moving Average and Macd. If have earlier used the strategy in the post about sectors here. I will write a detail post about this strategy later.
The results are complied on Buy, Neutral and Sell basis.
As of today the results are as follows.
The conclusion that can be drawn is that the markets could remain range bound for some time.
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