Sunday, January 31, 2016
Nifty for the week of Feb 01 to 05, 2016
This is a chart of 52 week high lows every day, of all stocks traded in NSE in the month of January 2016..Chart on top is Nifty Futures Chart for the same period.
This shows the internal strength of the market as a whole.
We see that when number of stocks hitting 52 week highs keep coming down, Nifty also goes down.
Also the green line represents the number of stocks hitting low and as the market comes down, this number shoots up.On January 18, the number of stocks hitting 52 week low was 228 and within two days the market formed a bottom.
When 52 week high numbers are rising, money flows into the market and when 52 week lows are rising money flows out of the market.
For the market to begin a consistent bull run, 52 week high numbers must stay consistently above 50 at least.
Right now we are at a truce situation. The internals are yet to show improvement. So we need to be cautious of the market rise.
To know more on Nifty analysis using astro and other techniques, please join our paid subscription. Send a mail to email@example.com for more details.