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.
You will observe that cash stocks were still holding on inspite of a big fall in nifty due to increase in crude price by around 10%. It is seen that when cash stocks are above 50% support , then markets are strong. Let us how the markets behave on 17th Sept, 2019 as trend of markets percentage wise is still up.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 75% of stocks which are above support and 35% 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.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
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
Disclaimer: Trading is risky and their is every chance of losing all your money.
You will observe that cash stocks were still holding on inspite of a big fall in nifty due to increase in crude price by around 10%. It is seen that when cash stocks are above 50% support , then markets are strong. Let us how the markets behave on 17th Sept, 2019 as trend of markets percentage wise is still up.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 75% of stocks which are above support and 35% 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.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
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
Disclaimer: Trading is risky and their is every chance of losing all your money.
No comments:
Post a Comment