Thursday, August 23, 2018

Why nifty not falling?

Of late social media is discussing overtime why nifty not falling.
Ofcouse chartist would say still resistance not reached ,Though a
fundamental guy would day PE is above 28 still market holding.
lets look at the following detail.

From above table we can see top 10 nifty stocks on weighted average .Reliance is almost 10% and this single super heavyweight has risen by 29% in last two month till today .Only 2 stocks in top 10 are giving negative return in last 2 months .These top 10 stocks hold 51.16% .So nifty is so dependent on these as far as up down move is concerned .So keep as eye on the biggest mover Reliance for hints.


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