iCharts Discussions

rameshraja · Expert Joined: 24 Nov 2006 Posts: 1121

Hello Srikanth

I am following this thread and it gives an advance indication of Market Turning points. However, I still don't understand the construction of this chart along with interpretation of same, due to Gap in my knowledge. Would like to sit with you in person and understand fully. Hope to meet you soon.

CTR

SwingTrader · Posted: Sat Dec 01, 2018 9:23 am Post subject:

SwingTrader · Posted: Mon Dec 03, 2018 8:01 pm Post subject:

NSE Breadth Oscillator as on 3rd Dec 2018

Medium term breadth continues to improve, short term breadth got big boost today. So continuation of the upmove.

SwingTrader · Posted: Tue Dec 04, 2018 9:48 pm Post subject:

NSE Breadth Oscillator as on 4th Dec 2018

Breadth continues to improve. It did increase only marginally today due to a lacklusture day.

SwingTrader · Posted: Wed Dec 05, 2018 9:15 pm Post subject:

NSE Breadth Oscillator as on 5th DEC 2018

Market was down today and both short term and medium term breadth too went down. We'll have to see if the pullback continues. Could be temporary pullback. I am expecting some more upside before the down move begins. I have no idea, this is just my opinion based on the breadth oscillator.

amit522 · White Belt Joined: 31 Oct 2017 Posts: 117

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

Good observation amit.. I would rather interpret this rise as a deceleration of selling.. we have risen with mostly lacklusture / sideways volumes. Though the oscillators moved up it could be due to lack of selling than a buying surge. Stock prices automatically get closer to their 50 / 200 DMAs so It be misleading in this regards.

SwingTrader · Posted: Thu Dec 06, 2018 9:14 am Post subject:

I agree. Good points @amit522 & @apka.

As we are getting to last leg of this upmove (pullback in downtrend) we could see more of this. Lots of stocks that posted good moves in this upmove could be starting to pullback. See the attached chart of "NSE Net Monthly Highs-Lows" ( it is available here : http://www.icharts.in/breadth-charts.html ), it shows not many stocks are continuing their move up. Not many stocks are now hitting monthly highs. I keep a close eye on this chart also to tune my equity exposure. This chart can be used as sort of confirmation for breadth oscillator or rather it can be used to complement breadth oscillator.

Note the divergence of monthly highs minus lows vs index before a decline or consolidation.

SwingTrader · Posted: Thu Dec 06, 2018 8:39 pm Post subject:

NSE Breadth Oscillator as on 6th Dec 2018

Strong move down in the market. Breadth too down as stocks declined across the board. Could this destory the bullish move? Maybe. If medium term breadth holds above zero until short term breadth bottoms, then we could still see a continuation of the upmove. If medium term breadth gets below zero, it would indicate big damage to lots of stocks and that would probably finish this short rally in downtrend.

SwingTrader · Posted: Mon Dec 10, 2018 9:04 am Post subject:

NSE Breadth Oscillator as on 7th DEC 2018

Short term breadth was flat on friday whereas medium term breadth ticked down. The next couple of days could be interesting...

SwingTrader · Posted: Mon Dec 10, 2018 7:44 pm Post subject:

NSE Market Breadth Oscillator as on 10th Dec 2018

Bad day for the market and breadth too confirms it. In fact breadth is breaking down hard. Short term breadth deteriorated hard and at the same time medium term too deteriorated hard. This is not good at all. Medium term breadh should have held above zero but this now looks unlikely. So we could be starting the leg down. It is now a possibility.

SwingTrader · Posted: Wed Dec 12, 2018 9:00 pm Post subject:

NSE Market Breadth Oscillator as on 12th Dec 2018

Stunning!!! Just one day and what a change in breadth. Both short term and medium term breadth has shot sharply up and the picture does not look that bad anymore. We still need to clear recent price highs for a better confirmation of near term continuation of the move but as of now things don't look too bad.

rk_a2003 · Black Belt Joined: 21 Jan 2010 Posts: 2734

rk_a2003 · Black Belt Joined: 21 Jan 2010 Posts: 2734

3 state losses for ruling party and bullish turn in over all
market breadth is a great divergence for divergence loving traders

.

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

ST,

Your updates on market breadth would be very helpful.

Manoj