PSU Bank Are Back, But Is This Sector Really Leading The Market?
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Looking at the PSU Bank chart tells us that the sector is showing a positive setup. But one important question remains: Is PSU Bank actually stronger than other sectors, or is the whole market moving together?
This is where Definedge’s MTF Ultimate Matrix Ranking becomes useful.
The tool compares all the instruments within a selected group and checks their strength across three different timeframes :- short-term, medium-term, and long-term.
Each timeframe gets a score, and these scores are combined into a Total Score. A higher score means the instrument is showing better strength compared with the other instruments in the same group.
In the current reading, PSU Banks have the highest short-term score, showing that the sector has been relatively strong recently. The ranking gives a quick way to compare sector strength instead of looking at one chart in isolation.
Strong chart + strong relative ranking = a setup worth keeping on the radar.