Sentiment Indicators

200-DMA INDICATOR: This indicator measures the percentage of Nifty 50 stocks that are trading above/below their 200-day simple moving averages. The 200-DMA is considered important as it is one of the basic technical indicators that can be used to determine the long-term trend of a security. Almost 92 per cent of the stocks that constitute the Nifty 50 equity benchmark index are trading above their 200-DMAs while 8 per cent of the stocks are trading below the 200-DMAs which was at 88 per cent in the prior week. This week Britannia, Kotak Bank and HDFC Bank closed above 200 DMA on the other hand PowerGrid closed below 200 DMA. In the past five trading sessions of the week, the Nifty index displayed remarkable strength, surging by approximately 459 points over the entire week. A robust buying trend emerged, maintaining momentum and enabling the index to fully recover from last month's dip, ultimately closing at an unprecedented level of 20,070 during Wednesday's trading session.