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Thursday, February 18, 2010

The Nifty Heavy Weights


Who are they? Where are they trading?

The S&P CNX Nifty consists of  fifty heavy weight issues. ( Nifty Fifty = Nif + ty  =  Nifty !!).

The Nifty being a free float weighted index, let us examine which issues  have the highest weights and where
they are trading in relation with their 200 day moving averages. The following chart shows the ten heavyweights who have a combined weight of more than 50 % of the Nifty. They are the majority and so the Nifty moves to the direction of the heavies in general.

Nifty Heavies, Their Rank, Price And 200 Day Moving Average

You can click on the chart to enlarge. 


Reliance, HDFC and SBI are having a combined weight of 19.73 %  in the index and these issues are trading just around the 200 day moving average. They were trading just below the average till yesterday. Further upward movement of the index depends on these share trading upwards of their long term averages.

LT and DLF having a weight of  7.5 % combined are clearly trading below their 200 DMA.

Inofosys, ICICI Bank, ITC, HDFC Bank and BHEL having a weight of 26.72 % in the Nifty are the winners and these issues are trading above their 200 day moving averages. The technical snapshots of their charts showing the moving averages follow: 

                                       Reliance                                                

You can click on the chart to enlarge.

Infosys


         You can click on the chart to enlarge.

ICICI Bank

 You can click on the chart to enlarge.

LT
 You can click on the chart to enlarge.

ITC
 You can click on the chart to enlarge.

HDFC
You can click on the chart to enlarge. 

HDFC Bank
You can click on the chart to enlarge.

DLF
You can click on the chart to enlarge. 

SBI
You can click on the chart to enlarge. 

  BHEL
You can click on the chart to enlarge. 


Cheers and Prosperous Investing and Trading!!!
 



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