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. 

S

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.

INFY UPDATE

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

INFY ELLIOTTWAVE ANALYSIS.

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.

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.

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.