Last week has changed a lot in the sectoral trend.
The week was a breakout from the range with Nifty moving up by 5%+ with CNX Realty and Bank Nifty up by 9% and 6% on weekly basis.
The major changes are as follows:
1. Nifty weekly mode has now come to Sell from Lev Sell mode. The index Lev Sell was for 8 weeks.
The Lev Sell net change for the index was 2.5% which is very less for a Leverage mode. This shows that the major trend is bullish only. It is in the bullish trend that Lev Sell produces such small gains.
2. Banking and IT indices are back to Buy and Neutral mode. These two sectors are good bullish bets going ahead as they are outperforming the broader market.
3. The BSE 500 and BSE 200 indices also recovered to Sell mode indicating that there is recovery in broader market.
4. The recovery from Lev Sell to Sell shows that we have made the bottom for intermediate term.
The color of Nifty weekly as of Monday open in Neutral.
The sectoral color:
The week was a breakout from the range with Nifty moving up by 5%+ with CNX Realty and Bank Nifty up by 9% and 6% on weekly basis.
The major changes are as follows:
1. Nifty weekly mode has now come to Sell from Lev Sell mode. The index Lev Sell was for 8 weeks.
The Lev Sell net change for the index was 2.5% which is very less for a Leverage mode. This shows that the major trend is bullish only. It is in the bullish trend that Lev Sell produces such small gains.
2. Banking and IT indices are back to Buy and Neutral mode. These two sectors are good bullish bets going ahead as they are outperforming the broader market.
3. The BSE 500 and BSE 200 indices also recovered to Sell mode indicating that there is recovery in broader market.
4. The recovery from Lev Sell to Sell shows that we have made the bottom for intermediate term.
The color of Nifty weekly as of Monday open in Neutral.
The sectoral color:
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