Sentiment Indicators

200-DMA INDICATOR:
This indicator assesses the distribution of Nifty 50 stocks above or below their crucial 200-day simple moving averages (200-DMA), a fundamental technical indicator determining a security's long-term trend. Presently, the equilibrium remains unchanged, with 76 per cent of Nifty 50 stocks trading above their 200-DMAs, while 24 per cent are below. Noteworthy instances this week include Divis Laboratories closing above its 200-DMA and India's largest public sector bank, State Bank of India (SBI), slipping below its 200-DMA. The Nifty 50 index has largely operated within the confines of the November 16 range, with institutional flows resulting in subdued activity. Notably, market attention has shifted towards recently launched IPOs on Dalal Street. At present, a favourable gap exists between the Nifty's closing value at 19,811.45 and its 200-day moving average at 18,748.94.