CNX500 Relative Strength
Attached: Nifty 500/ Nifty 50 Daily Chart as of 21st March 2023
- I am watching this Ratio Chart to turn down after Retesting a Confluence Zone
- Its looking Bearish currently post a Rising Wedge breakdown and Three Black Crows candlestick pattern
- It signals Weakness in the Broad Market relative to the Index.
- This Chart had Topped out in Sept 2022 and since then there has been Under the Hood Selling in the Market.
This is a Leading Indicator of the Broad Market Strength/ Weakness
And comes under the Study of Intermarket Analysis
Attached: Nifty 500/ Nifty 50 Daily Chart as of 21st March 2023
- I am watching this Ratio Chart to turn down after Retesting a Confluence Zone
- Its looking Bearish currently post a Rising Wedge breakdown and Three Black Crows candlestick pattern
- It signals Weakness in the Broad Market relative to the Index.
- This Chart had Topped out in Sept 2022 and since then there has been Under the Hood Selling in the Market.
This is a Leading Indicator of the Broad Market Strength/ Weakness
And comes under the Study of Intermarket Analysis
Analysis playing out as Expected