continued bullish strength on India Kings

India King's, the top ten stocks of India - Index continues to show strength while both NIFTY & Sensex closed almost flat. There can be further up moves in the market, but very much restrictive. 5500 should hold a very strong resistance on the up side.


Industrial Sector leads the rally and has been maintaining its top position in the sector list for quite some time now. Engineering, Auto LCV/HCV and Civil construction Industries are among the top ranked industries today. Daily charts of Civil Construction Industry has retraced multiple bullish divergence on MACD as well as MACD histogram, before turning into the present strong bullish move. Whereas it's weekly charts show that there is more to come on the bearish side.


There are possibilities of another 5 to 6% upward moves before any weakness could set in, in the Civil Construction Industry. 

India King's showing more strength.

Top 10 stocks of India compiled in the India King's Index is showing greater strength against the other market Indices. This indicates that there can be further up moves, but caution is needed here. We find that many of the sectors have marginally closed in the Red today. 


Along with this the top ten index of each sector the 'Life Indices' are showing more weakness in each of the sector that have closed negative today. This is likely to impact strong moves upward. Consumer Service, Industrials and Basic materials can drag the markets down.Utilities, Energy and Telecom show renewed strength.


Telecom Sector is showing more proof by having many of the prominent among it's list like IDEA, RCOM etc., entering the top traded stocks list today.