Sector Technicals for the week ending – 13th September 2015.

Nifty Weekly Technical Analysis:

Well, not much change since last week’s post but few developments –

1.       40 Week MA has turned down : from a longer term trend perspective it is not only bad that we are trading below this MA but that this MA turned down can signal a longer term down trend developing.

 

2.       Weekly RSI has turned up, so yeah we could get a bounce for a week or two.

3.       The CNX Mid cap, Small cap, Alpha Index & Low volatility index – all are trading below their 40 week MA’s.

4.       Of course all this analysis can go totally wrong but the number of negatives as highlighted in the last post and this are just too high. It will take a lot of hard work to overcome these negatives…until then.. in exit mode J  

Thanks for reading J