• : January 23, 2021
  • : Prashant Shah

PSE Sector and Relative Strength

Below is a price and relative strength chart of Nifty PSE index from Jan 2017.



It has been underperforming Nifty consistently since 2017. There has not been a bullish setup in the relative strength chart since then. There were few instances of bullish breakout on price chart. If you have you know what is happening on relative strength chart, you get to know when to ignore bullish price action or when it should be traded only for short-term.

Another thing to notice is bearish divergence between price and relative strength at the top (Red arrows). Relative strength divergences are logical and useful observation. We will write more about this in next newsletter.

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USDINR

Below is a 0.15% x 3 USDINR chart.



It is in a bullish zone. Above bearish 45-degree trend lines and bullish 45-degree trend line. Current setup is anchor column follow-through.

Below is a 0.25% x 3 chart.



Current setup is triple-top buy followed by ABC breakout. Bullish counts are open. Setup will get negated below 71.

Below is Matrix table of near future chart of all currencies.



USDINR performance and ranking score is bullish.