Trend, participation and relative evidence are sufficiently aligned for selective exposure.
72
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
India IN Basic Materials Industry
Steel
For the week ending 28 August 2026, Steel advanced 2.37% with 53 advancing, 30 declining, and 1 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.
Current architecture
Upward Expansion
The activity fan is positively ordered above a rising Trend Line with price accepted above it.
72
technical evidence
Index9353.81
1 week2.37%
Breadth63%
Members84
Country
🇮🇳 India · IN
Sector
Basic Materials
Universe
country-listed
Price basis
Adjusted weekly close
Trend architecture
Index, activity fan and structural anchors
Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.
Index Value
Trend Line
Fair Value
Activity Lines
Constructive architecture
Transitional architecture
Defensive architecture
Current architecture
Upward Expansion
2 completed weeks in this state
Trend acceptance
10.6%
Index versus Trend Line
Persistence
100%
Positive across every horizon
Participation
63%
53 advancing, 30 declining
Investor positioning lens
Is the evidence ready for capital?
A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.
Evidence balance
Position
Five-pillar map
Trend
84
Breadth
55
Persistence
62
Relative
83
Risk quality
89
What supports the view
- The index remains above a constructive Trend gate.
- Constituent trends show positive multi-horizon persistence.
- Medium-term relative returns and peer standing remain constructive.
What restrains conviction
- Breadth remains too narrow or inconsistent for a high-conviction position.
- The current 13-week parent-relative trend is weakening.
This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.
Trend state and durability
Architecture, persistence and constituent regimes
The index path is tested against the underlying security-level trend evidence.
The activity fan is positively ordered above a rising Trend Line with price accepted above it.
State age2 weeks
Trend gateUp
Fan width4.39%
Fast versus slow change0.85 pts
Above 67%
Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Positive across every horizon
The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.
13-week
6.0%
26-week
18.2%
39-week
16.8%
52-week
20.3%
Constituent trend persistence
93% coverage
Is the index move broadly durable?
63%positive
Coherent positive35%
Coherent negative22%
Average horizon agreement85%
Positive horizon share59%
Weakening positives18
Repairing negatives5
78 constituents measured as of 28 Aug 2026. Median trend age is 22 weeks.
Custom stage map
90% coverage
Where constituents sit in the cycle
49%Stage 2
Stage 1 · Basing12%9 securities
Stage 2 · Advancing49%37 securities
Stage 3 · Distribution8%6 securities
Stage 4 · Declining32%24 securities
Re-acceleration watch0
Transition watch5
Relative strength leaders36%
Fair Value repairs5
Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
77/100 mean confidence
How market energy is distributed
Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.
Capital rotation
Performance relative to Basic Materials
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than Basic Materials. A falling line means capital has done better in the parent benchmark.
Relative index131.6
13-week trend130.2
4-week trend change-0.37%
Weekly peer rank2 of 10
1 week
1.3 pts
relative
4 weeks
3.0 pts
relative
13 weeks
0.1 pts
relative
26 weeks
3.6 pts
relative
52 weeks
16.5 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Broad
Participation quality
63%
advanced
- Advancing
- 53
- Declining
- 30
- Unchanged
- 1
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility21.1%
Drawdown from 52-week high0.0%
Positive weeks, last 1354%
Current directional run2 weeks
Turnover versus 13-week norm309%
Breadth impulse18.0 pts
Cross-section
84 measured
Return distribution
Q1 -1.4%
Median 0.8%
Q3 5.2%
Average winner5.8%
Average loser-3.2%
Dispersion6.9 pts
Top-five upside share33%
Top-five capital share60%
Capital data coverage100%
Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.
Momentum cycle
30-week persistence
Positive readings show expansion. Negative readings show contraction.
Breadth cycle
Net participation
Advancers less decliners as a percentage of measured constituents.
News and narrative
Does company news confirm the market tape?
Sentiment evidence is still developing
Qualified company-level news coverage is not yet broad enough to influence the group view.
0 qualified records across 84 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Industry constituents
All 84 measured constituents, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.