India's Leading Stocks (PI Industries) Running Out Of Steam?

In addition to seeing the weakest sectors in India breaking to new lows, we’re witnessing some of its leading stocks run out of steam over the short-term. Here’s PI Industries failing to get above resistance near 1,585 and slowly beginning to roll over again. Notice momentum failed to reach overbought territory as well. And there are plenty of other leading stocks out there exhibiting these conditions. In our blog post linked below we take a look at several charts that suggest further weakness in Equities around the globe could be ahead.