Methodology
The exact rules behind every number on the site, so you can check them yourself.
Universe and liquidity
The universe is the Nifty Total Market list: Nifty 500 plus Nifty Microcap 250, with NSE's basic-industry classification for sectors and industries. A stock counts as liquid when its average daily traded value (close × volume) over the last 20 sessions is at least ₹10 crore. Sector, industry and breadth figures on the public pages use liquid stocks.
RS rating (1 to 99)
Each stock gets a weighted 12-month return, with the most recent quarter counted twice:
0.4 × 3-month + 0.2 × 6-month + 0.2 × 9-month + 0.2 × 12-month
The windows are 63, 126, 189 and 252 trading days. If a stock lacks 9 or 12 months of history, its 6-month return fills the gap; with less than 6 months it gets no rating. The weighted returns are then ranked across the whole universe and scaled to 1–99, so a rating of 90 means the stock beat about 90% of the list. RS change compares today's rating with the rating from the same formula 21 trading days ago. Separate 1, 3, 6 and 12-month ratings are ranked the same way.
Stages
Stages follow Weinstein's idea, using the 150-day (about 30-week) moving average:
| Stage | Rule |
|---|---|
| 2 · Advancing | The 150-day average rose more than 1% over 20 sessions and price is above it. |
| 3 · Topping | The average is rising but price is below it, or the average is flat and higher than 120 sessions ago. |
| 4 · Declining | The 150-day average fell more than 1% over 20 sessions and price is below it. |
| 1 · Basing | The average is falling but price is above it, or the average is flat and not higher than 120 sessions ago. |
Trend template score (0 to 8)
One point for each check passed: price above the 150 and 200-day averages; 150-day above 200-day; 200-day rising; 50-day above the 150 and 200-day; price above the 50-day; at least 30% above the 52-week low; within 25% of the 52-week high; RS rating 70 or more.
Sector rotation quadrants
For each sector, the scanner takes the median member's 3-month return minus the Nifty 500's (horizontal axis) and the median member's one-month RS change (vertical axis).
- Leading: beating the index and RS still rising.
- Weakening: beating the index but RS falling.
- Lagging: trailing the index and RS falling.
- Improving: trailing the index but RS rising.
Tails on the chart are the same two numbers measured at weekly steps.
Breadth
Breadth is the share of stocks closing above their 50-day (or 200-day) moving average. The history in the app goes back to 2019.
Backtests: no hindsight
- On each test date the stock list is rebuilt from that date: stocks are ranked by market cap then (today's share count × that day's price). Stocks that later shrank or fell out of the index stay in. NSE does not publish full membership history, so this is a close approximation, not the official list. Companies that have since been delisted are missing, because their price history is not in the data source.
- RS ratings, themes and sectors are recomputed using only prices up to that date.
- Trades are priced at the next session's close, not the close that produced the signal.
- A trading cost is deducted on every buy and sell (0.5% per round trip by default for India; you can change it). Results are hypothetical, and past results do not predict future ones.
Data and its limits
Prices are daily closes from Yahoo Finance; lists and classifications come from NSE and niftyindices.com. Public data can have gaps, late corporate-action adjustments or errors. If something looks off, tell us on X at @GetMktStrength and we will check it.
See it on live data