Sectorial Ratio charts

23 apr 2023

This analysis is to see some of the ratio charts of different sector in comparison to Nifty, which in my opinion can give a directional edge to traders for short to medium term in terms of identifying which sector may be outperforming wider market.

Pharma Index / Nifty ratio chart is suggesting a falling wedge BO on weekly charts and possibility of Pharma outperforming for comings weeks is higher with RSI divergence and also MACD signal showing strength.


#Banknifty

Banknifty / Nifty - C&H breakout and as seen since last few months - Banknifty continue to outperform Nifty and may still continue to lead



#CNXFinance

Financial sector is also outperforming nifty, looks like buy on dips setup




#CNXIT

CNXIT vs Nifty is showing weakness but is oversold, chances of bounce back - but may still continue to underperform wider market.





#Realty

Reality sector is showing signs of outperforming Nifty in coming weeks, with falling wedge visible on ratio charts along with MACD & RSI showing good signs




#FMCG

FMCG ratio chart can give a C&H breakout, overall looks +ve




#CNXAUTO

No clear strength or weakness in comparison to Nifty, looks like at par