The New High New Low Index for the Nifty stocks has given a clear bearish signal. The daily NH-NL turned down on 16th August, while the weekly NH-NL turns down today. Both the leading indicators have retraced pretty clear bearish divergences.
Another leading indicator for the markets the Advance/ Decline Ratio and Up/ Down volume ratio has been continuously giving lower lows after good bearish divergence which was retraced on 30th July.
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