[Premium] Three Charts For The Week Ahead

Last week we focused on $DXY, Nifty 50 EW, andNifty Metal

Let's move into this week's topics. We have big, important moves to track this week.

1. The first chart we're looking at is MSCI All Country World Index ($ACWI). It represents the performance of large- and mid-cap stocks across 23 developed and 24 emerging markets. The price is in the primary downtrend, which portrays the weak global market. On the shorter horizon, the index is up 15% from its October lows, and 93% of market constituents are above the 10-week average. A breakout above 93 will confirm a bullish reversal and a risk on the environment.

Click on the chart to zoom in.

2. The second chart we're looking at is All India Market Capitalisation in the top pane, which covers about 5,200+ BSE listed companies, and the market capitalisation of the Top 10 companies in the bottom pane. The nifty 500 is hovering at its year-to-date highs. The current price level has acted as a resistance level multiple times. Here the 15,000 is the critical level to hold.
The broader participation backs the current market movements, with outperformance coming from the top 10 stocks. We continue to monitor how the market behaves around this upper extreme of market cap gains.

3. The third chart we're looking at is Nifty Bank Index. Last week, it closed at an all-time high after breaking above the year-long base breakout. The momentum is in the bullish regime with participation coming from both Public and Private sector banks. Financial holds a significant weightage in the Nifty 500. So, strength in this index is positive for both financials and the broader market.

In our view, these charts will help set the tone for this week and provide information on how we should approach the market in the coming weeks.

Also, check out our other weekly post, "Trade Of The Week."

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team