Saturday, May 02, 2020

Nifty sectors Weightage

As we all know nifty is a index which contains 50 stocks.These stocks carry their weight in nifty .These stocks are from different sectors ,Many are from same sector.Lets segregate them according to their sectors to find out individual sector weight age in NIFTY. 

The above table shows weightage of diffrent sectors in Nifty. We can see the main drivers of nifty are
four sectors according to weightage BANKING ,IT ,FMCG and OIL&GAS.

The top 4,5 sectors in nifty have almost 80% weightage in nifty.

Nifty heavyweight sectors
Banking sector  26.30%
IT Sector  15.09%
FMCG Sector 14.51%
Oil&gas Sector 12.48%
Finance  10.33%
Total 78.71%
Here if i club banking and finance we have a super heavyweight sector which has weight age of almost 37% .So the backbone of nifty is Banking and finance sector.Nifty cant move or fall for a long time time without favorable response from this sector. IT and FMCG are almost same weightage .So next time you try to figure out nifty trend or bias do go through the heavyweight sector stocks ,You would get good hints about it.


In my last post ,Had discussed about a triangle unfolding in infy.

Lets see the present scenario.

From the last post after abc a triangle finished in d and now probably we have finished e.
Below 650 confirmation of e being finished. Expecting this to be in sideways to downward 
bias as long as yesterdays high is not crossed.

Sunday, April 26, 2020

Axis bank elliottwave analysis.

 Lets look at axis bank wave structure.

The bigger timeframe 

Lets look at the structure of rise from the lows. 

This looks interesting ,Structure looks quite clear and is well labled. 360-70 looks good support 
as lomg as that holds a bullish count remains active for upside .Lets see how the price moves in coming days.

Sunday, April 19, 2020

TCS elliottwave analysis

Taking further from old post IT stocks.
Lets see TCS structure.

The TCS waves showing lot of abcs ,Here the ideal count i have labled ,As long as a high above 
the dotted yellow line is not done this count is valid.Still we can see rangebound moves for a while and then a trending move.Would update on this as the move matures.