Introduction: In the dynamic world of trading, identifying relative strengths and weaknesses among stocks and indices is crucial for maximizing profits. This idea focuses on the underperformance of ICICIBANK compared to the Nifty 50 index. By analyzing the daily charts and employing a ratio chart, we can spot a potential opportunity for a pair trade. This write-up...
Attached: HEROMOTOCO/ NIFTY 50 Weekly Chart as of 28th April 2023 The above Ratio Chart also called a Relative Strength Chart shows that the Stock HEROMOTOCO is set to Outperform the Index Nifty 50 and has given a Buy Signal on this Ratio Chart based on Elliot Wave Theory Wave 1/ A was a 5 wave Impulse Ratio retraced to 0.786 in Wave 2/ B as a 3 wave...
Attached: HDFCBANK/ NIFTY 50 Weekly Chart as of 28th April 2023 The Chart above shows Potential Underperformance lies ahead for HDFC Bank. Investors are better off Avoiding/ Exiting the Stock unless they want to Underperform the Broad Market from here onwards. No alpha is to be made by Holding on/ Buying the Stock at the Current Price This Ratio Chart points...
Attached: Nifty Small Cap 100/ Nifty 50 Daily Live Market Chart A Possible Trend Change in this Ratio as there is Breakout And now Small Caps are set to Outperform Large Caps for the coming few weeks This is Risk On behavior, something has clearly changed on this Chart
Attached: GAIL/ NIFTY 50 Daily Chart as of 12th April 2023 As you can see in the Attached Chart, there are 3 Bullish Signals hinting that the Ratio Chart is likely to Rally Up: 1) Cup and Handle Pattern Breakout (see Green Neckline)..... whose Target is still Pending as the Chart works its way up 2) Falling Wedge Breakout (see Wedge Blue lines)........ this is...
Even though the chart is self explanatory, I have tried to compare NSE:NIFTY with NSE:INDIAVIX Blue line is NSE:INDIAVIX Brown line is NSE:NIFTY Dashed red line is trendline support and NF breaking above that Light yellow line is support line for NSE:INDIAVIX 2 possibilities exist - 1) India Vix continues to trade below or near the support line, and...
Nifty PSU Bank Index is outperforming Private Bank Index by a big margin. Current Situation is Similar to 2004-2008 Period where maximum money was made by Public Sector Banks. Public Sector Banks where NPA's have bottomed out and Banks with High Provision Coverage Ratio has potential to surprise everyone on the positive side. Chart Suggests that PSU Banks can...
NIFTYMETAL/NIFTY relative strength chart is getting a bullish support as the price is pushing out of the triangle resistance zone. The 200DMA (green line) is supporting the bullish price action. Further, the price is retracing from the 38.2 Fib zone of the bigger range. We are bullish on the Nifty metal index in the coming weeks with target at the top of the...
Analysis of Bata India on the basis of Ratio chart and Trendline Target - 2900 (Top of trendline) Analysis on the basis of Ratio chart shows reversal in strength of Bataindia w.r.t to NIFTY. Reversal in strength w.r.t NIFTY and channel breakout are strong signals to buy. RSI - the RSI continuously staying above 60 further shows momentum in stocks. Chart is...
GOLD INR NIFTY Ratio Chart to rebalance Equity and Gold.
NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.
Breakout after nice consolidation
NIFTYIT/NIFTY ratio chart has been trading in a range for the last 9 months since Sep'20, as shown in the rectangle pattern. The chart is breaching the top trend line of the pattern with momentum. RSI, the momentum indicator, never reached oversold conditions at the two times the ratio touched the bottom of the rectangle, indicating strength. The RSI is also well...
Nifty Auto/Nifty chart has returned from its support on the Daily timeframe. Looks like it's heading back to 0.70 resistance. Auto companies may shine more in the coming weeks.