Market Movers: Sectoral Index

Arun_K_Bhaskar Updated   
The indicator will show the Sectors which are leading or lagging NIFTY50 index based on Alpha & Beta values. Stock selection can be done based on the respective Sectors.

  • Look for alpha & beta values.
  • Prefer one with high beta.
  • Greens are leaders & Blues are lagers.
  • This don't completely indicates a trend, but it can give the overview of a major trend & market movers.
  • Gray line is the base index NIFTY50, it is Zero.
  • Turn on Indicator Name Label in Settings > Chart Settings.
  • In intraday or positions, in a leading Sector there will be a leading stock, spot it out.
  • Make a sector wise watchlist of stocks.
  • Use higher or Daily timeframe for Swing trades.
  • Detailed descriptions are available in my previous Alpha & Beta indicators.
Release Notes:
Update v1.1
Added table.
Changed color scheme.
Release Notes:
Update v1.2

Day Start Marker color choice.
Simplified menu.
Avoided Labels and Tables show/hide option as it is available in the Style tab.
Release Notes:
Update v1.3
  • Included day % change in the table.
Release Notes:
Updated on 24 July 2022

  • Bug fix
Release Notes:
Updated on 24 July 2022
  • Bug fix
Open-source script

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