Nifty Internals

The 2 charts below show that Indian Markets are yet to give bottoming sign, even in the short term. The upper chart shows that much more stocks are declining than compared to advancing, and the 10 day moving average is yet to turn up. We can expect bounces but there is still no sign of a sustained (2-3 days) of rising market.

The lower chart is based on difference between close price and weighted average of Nifty futures. Here also we see that Nifty is consistently closing much lower than the wighted average of the full trading day. This is a sign of larger players in sell mode, while the day traders slug it out most of the day, larger participants come and just SELL!