Sunday, June 26, 2016

52 week highs and lows

This is a correlation chart between 52 week highs, lows and Nifty weekly movements. Every time the number of stocks making 52 week highs come down, Nifty reacts. Also 52 week lows depict an inverse correlation with Nifty movements.
Currently 52 highs are coming down and 52 lows are going up.Things have not yet reached panic state yet.The week Nifty High and Low cross each other,the current downside could accelerate till the market puts in a bottom.

No comments: