I was going through charts over weekend, was looking at relative strengths and found one important chart which have major impact on market. Nifty Pvt Bank vs Nifty 50 .
Momentum is not getting over bought and momentum seems to be losing over last few days.
Nifty pvt bank cap weighted momentum is also diverging. Leaders are taking pause in private bank like ICICI bank. We need to keep watch on this space over next few weeks. We can see some weakness overall in this sector.
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