Broader trend of Cash stocks came in up on Monday 9th Sept as percentage above support that day came above 53%. Nifty midcap 50 that day closed at 4315.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 71% of stocks which are above support and 39% stocks are below support. When stocks above support are below 50% we consider cash stocks to be in downtrend and above 50% we consider cash stocks to be in uptrend. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. So after a long time this percentage has come above 50% implying that a new uptrend has started in cash stocks and time has come to buy deliveries.
Did you observe that once broader trend comes to up, even auto stocks started to move up. That is a healthy sign.
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 71% of stocks which are above support and 39% stocks are below support. When stocks above support are below 50% we consider cash stocks to be in downtrend and above 50% we consider cash stocks to be in uptrend. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. So after a long time this percentage has come above 50% implying that a new uptrend has started in cash stocks and time has come to buy deliveries.
Did you observe that once broader trend comes to up, even auto stocks started to move up. That is a healthy sign.
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
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