Sector rotation

NSE relative rotation graph (RRG)

Every NSE sector plotted against the Nifty 50: how strong it is (RS-Ratio) and whether that strength is building or fading (RS-Momentum). Drop into a sector to see which industries inside it are actually carrying the move.

Showing the graph as it stood on 2026-09-28 — the positions traders were actually looking at then, not hindsight. Back to today →

ShowAll NonePharmaceuticalsLabs & Life Sciences ServicesHospitals & Diagnostic CentresHealth Care Equipment & SuppliesBiotechnology

Nothing selected — the graph is empty. Tick an industry above, or show all industries.

Each dot is an industry; the trail behind it is the last 8 weeks, one point per week. Rotation normally runs clockwise: Improving → Leading → Weakening → Lagging. A bigger dot means more of the industry's stocks are in Stage 2. Use the chips above to isolate industries; the axes stay fixed so positions remain comparable.

Showing the 2 Leading industries: ahead of the Nifty and still gaining. Show all

No industry is Improving on this graph. Show all

Showing the 3 Weakening industries: still ahead, losing momentum. Show all

No industry is Lagging on this graph. Show all

NSE industries by RRG quadrant, with where each one sat 1, 2 and 3 months earlier, RS-Ratio and RS-Momentum
Industry	Now	Breadth	1M	2M	3M	RS-Ratio	RS-Mom	8w return	Stage 2 stocks
Pharmaceuticals	Leadingahead of the Nifty and still gaining	Thinning54%price ahead	L	W	L	101.79	100.53	+3.2%	Screen →
Labs & Life Sciences Services	Leadingahead of the Nifty and still gaining	Thinning33%price ahead	W	G	L	101.73	100.12	+11.7%	Screen →
Hospitals & Diagnostic Centres	Weakeningstill ahead, losing momentum	Thinning35%	L	W	L	101.39	98.68	-2.4%	Screen →
Health Care Equipment & Supplies	Weakeningstill ahead, losing momentum	Weak30%	G	W	L	101.07	98.94	-1.6%	Screen →
Biotechnology	Weakeningstill ahead, losing momentum	Thinning33%	L	W	L	100.66	98.19	-2.6%	Screen →

L Leading · I Improving · W Weakening · G Lagging. Read the three history columns left to right to see the path: a run of I → L is a rotation being confirmed, L → W is one running out of road.

Breadth is how much of the industry is in Stage 2 (the percentage, and the size of its dot on the graph) compared with the other industries here: Strong a large share and growing, Building a small share but growing, Thinning a large share but shrinking, Weak a small share and shrinking.

Benchmark: Nifty 50. Computed from 270 trading sessions, latest 2026-10-29. Updated after each end-of-day run. Thin industries without continuous history are left out rather than drawn from gaps.

How to read this

The horizontal axis is relative strength against the Nifty 50 — right of centre means the group is beating the index. The vertical axis is the momentum of that strength — above centre means the lead is still building. Both are measured against the group's own recent range rather than a fixed scale, so a position just past centre is a real move, not a rounding error.

Read the quadrant and the direction of travel, not the absolute distance. Groups normally rotate clockwise (Improving, Leading, Weakening, Lagging), and a tail curling back toward the centre is the earliest sign a run is ending. The most useful reading is a disagreement: something sitting in Leading with a tail already bending down is late, whatever the headline says.

Then check the breadth. The graph measures price against the Nifty; breadth counts how many of the group's own stocks are in a Stage 2 uptrend. When the two point the same way the move is broad. A group whose momentum is rising while fewer of its stocks hold Stage 2 is marked price ahead: a handful of names is carrying it. One where more stocks are entering Stage 2 while momentum still falls is marked breadth ahead, and that is often how a turn starts.