Market Internals still Under Pressure!CNX500 Relative Strength
Attached: Nifty 500/ Nifty 50 Daily Chart as of 21st April 2023
This Ratio Chart is NOT supportive of a Bull/ Risk On phase for the Broad Market. The 500 stocks are likely to Underperform while the 50 stocks are likely to Outperform.
What does this mean you ask?
In simple Layman terms,
it means Index Nifty 50 will be MANAGED (propped up) by Heavyweights that make up approx. 50-60% of Nifty 50's Weightage
while Under the Hood Selling in Rest of the Market will continue as the ones which are in Down Trends are unlikely to see a Trend Reversal
Nifty 50 will Deceive you into thinking it is a Bull Market while the Market Internals suggest otherwise!
(Note: This is an update to an Old Related Idea titled: 'Market Internals suggest WEAKNESS' but for some reason Trading View platform is not allowing me to update that Idea with this updated Chart I have prepared. Hence, I have created this as a Separate Post)
