Some conflicting signals:
India VIX has been closing below 20(good sign), occasionally giving a spike scare then abating within the session.
Not much buying seen from FIIs/DIIs. In fact the FIIs sold 660Cr and DIIs bought only 112Cr. Yet market closed marginally in green. Is the market being kept afloat for a while?
The RSI divergence can be easily noticed on the charts.
The NIFTY Futures relative strength against NIFTY has been in a constant decline for four sessions.
Nifty is forming a Rounding bottom pattern, but the volumes have been on a continuous decline. (Ideally the volumes should expand while the price approaches the breakout point.)
The leading sectors (Metals, Pharma, IT) are not really moving (market breadth wise).
We are seeing a lot of failed breakouts. A hard penny environment. The NIFTY looks like a stronger index vis-a-vis S&P500 on Relative Strength. But are we really seeing strength in the broader market?
India VIX has been closing below 20(good sign), occasionally giving a spike scare then abating within the session.
Not much buying seen from FIIs/DIIs. In fact the FIIs sold 660Cr and DIIs bought only 112Cr. Yet market closed marginally in green. Is the market being kept afloat for a while?
The RSI divergence can be easily noticed on the charts.
The NIFTY Futures relative strength against NIFTY has been in a constant decline for four sessions.
Nifty is forming a Rounding bottom pattern, but the volumes have been on a continuous decline. (Ideally the volumes should expand while the price approaches the breakout point.)
The leading sectors (Metals, Pharma, IT) are not really moving (market breadth wise).
We are seeing a lot of failed breakouts. A hard penny environment. The NIFTY looks like a stronger index vis-a-vis S&P500 on Relative Strength. But are we really seeing strength in the broader market?
Ghi chú
Note: I'm not a SEBI registered advisor. Please use discretion and consult your financial advisor.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.