Intraday RRG — live leadership rotation for NIFTY.
Julius de Kempenaer's Relative Rotation Graph — the chart Bloomberg RRG<GO> desks run on event days — on hourly bars with an institutional 80-bar lookback. Shows leadership shifts in 3-4 sessions that weekly RRG takes a month to reveal. Live from Yahoo Finance, cached 15 minutes for scale.
Methodology (same as Bloomberg RRG<GO> intraday)
Pipeline per stock vs NIFTY 50 benchmark, on 1-hour bars over last 30 trading days:
- Raw relative strength:
RS = (stock_close / nifty_close) × 100 - 10-bar EMA smoothing of RS to reduce tick noise
- 80-bar rolling z-score of smoothed RS × 10 (JdK canonical scale), centred at 100 → RS-Ratio
- 3-bar EMA post-smoothing on RS-Ratio — reduces hour-to-hour wobble
- 10-bar rate of change of RS-Ratio, same z-score normalization → raw RS-Momentum
- 6-bar EMA post-smoothing on momentum — gives readable trajectory arcs instead of zigzag noise
- Plot (RS-Ratio, RS-Momentum) with 16-bar trajectory tail (~2 trading sessions)
80 hourly bars ≈ 2 trading weeks of hours. That's long enough that single event-day shocks don't destabilise the z-score — the common failure mode of amateur intraday RRG implementations using 40-50 bar windows.
When intraday RRG adds value
- • Event days. Budget, RBI policy, FOMC. Rotation can complete in hours — hourly RRG catches the pivot; weekly takes 3 sessions to even register.
- • Expiry Thursdays. Gamma-driven rotation (see GEX) is intraday-scale. Weekly RRG is blind to it.
- • Results week. A heavyweight results print can flip sector leadership by lunch. Hourly shows it; weekly doesn't yet.
- • Confirming weekly setups. Before entering a weekly-RRG leader, check intraday doesn't contradict. If hourly shows it rotating to Weakening, wait.
Honest caveats (read these)
- • Intraday RRG is noisier than weekly. Even with an 80-bar lookback, session-local mean-reversion can flip a stock's quadrant temporarily. Use alongside breadth + gamma context, not as a standalone signal generator.
- • Ticker universe is limited to the 10 largest NIFTY 50 weights — both for scale (Yahoo rate limits) and because deep-OTM NIFTY 50 names have thin hourly liquidity producing noisy prints.
- • Hourly data source is Yahoo Finance, which is free but occasionally rate-limits. If you see "unavailable", that's why — retry in a few minutes, or use the more reliable weekly RRG.
- • Labelled Beta until we ship a paid primary-feed backup for production-grade reliability.
Pair with these for full context
Read today's intraday rotation in context
Axel cross-references the intraday RRG with weekly RRG + gamma + breadth to flag which rotations are institutional-driven vs session-noise. Research framing.
Research tool · not investment advice.
Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Hourly bars from Yahoo Finance public chart/v8 endpoint, 30-day range. Computation: JdK canonical methodology — 10-bar EMA on raw RS, 80-bar rolling z-score × 10 centred at 100, 3-bar EMA post-smooth on RS-Ratio, 10-bar momentum ROC, 6-bar EMA post-smooth on momentum, 16-bar trajectory tail. Yahoo intraday data is delayed ~15 minutes by exchange; cache is tuned to match. Beta tool — use alongside weekly RRG for signal confirmation. Educational research only, not a trade recommendation.