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 60 per cent of the stocks that constitute Nifty 50 equity benchmark index are trading above their 200-DMAs while 40 per cent of the stocks are trading below the 200-DMA. On a weekly basis, we observed that there was a net change of 6 per cent of Nifty stocks rising above their 200-DMA. In the last four trading sessions, HDFC Bank, HDFC, and UltraTech Cement rose above the key indicator. The benchmark Nifty 50 index sparkled during the Diwali week as it witnessed strong gains of nearly 300 points and even tested the 17,800 level twice. Strong corporate results driven by key IT companies and PSU banks led to stock-specific action on D-Street. In the past four trading days, the index soared 144 points or 0.80 per cent.