Last Week was all red for Indian markets. The Nifty index self was about 1.5% down and the only savior was Friday when the markets closed up.
The sector breadth was all -ive with the bias in strong sector like IT also turning to sell now.
The sector breadth was all -ive with the bias in strong sector like IT also turning to sell now.
Not a single sector was in Buy or Neutral color as of Friday 11th.
This could prove a major turning point as the breadth has never been so bearish since Mar'09. Any further continuation of the trend for next 1-2 weeks will break the overall Bull trend. This extremeness is also captured in the State of Market Report.
P.S. The trend is based on weekly time frame as of Friday closing.
Lev Buy and Lev Sell indicates leverage positioning.
I have included price change with the color for the confirmation.
Lev Buy and Lev Sell indicates leverage positioning.
I have included price change with the color for the confirmation.
No comments:
Post a Comment