Among these, 30 stocks are from the benchmark Nifty 50; 286 from the Nifty 500; 61 from the Nifty MidCap 100, and 58 are from the Nifty SmallCap 100 index.
Even as some fundamental analysts have raised questions over valuation of the Nifty and its constituents, technical analysts don’t see any immediate pause for the index. Rohit Srivastava, Founder and Market Strategist at indiacharts.com, sees the Nifty rising to 20,600 level. He believes the index will continue with the trend of higher highs and higher lows.
Currently, around 452 or 90 percent firms in Nifty 500, around 95 in Nifty Midcap 100 and 90 in Nifty Smallcap 100 are trading above the 200 DMA. Analysts say this indicates that they are potentially nearing an overbought zone
The rising Index, with a high number of constituents participating, confirms a bullish trend and sustainability of the Index at higher levels, say some experts. However, one fund manager says the data hides more than it reveals, given that the returns so far have been abysmal.
A stock trading below 200 DMA does not mean it is available at attractive levels. It can remain below 200 DMA for a prolonged period of time depending on the overall structure of the price action
48 out of 50 Nifty stocks are trading well above their short term and long term moving averages i.e. 50-DMA, and 200-DMA. And, all 30 stocks in Sensex are trading above crucial averages.
Both 50-DMA, and 200-DMA levels are used widely by the traders to determine the short-term, as well as the long term, strength of a stock or an index.
Nifty50 is trading below both its short term and long term moving average which is slightly bearish in nature. 200-Day SMA is considered as a crucial level by technical chartists to define the long term trend of the market.
The Nifty50 formed an ‘Island Reversal’ pattern on the daily charts on May 4 which is a reversal pattern, and the next big support for the index is placed at 9,250, and below that 8,900-8,800, suggest experts.
We are just ahead of an important event such as RBI meet, and the markets need to sustain this important level of 10,800-10,900 mark since it is an important as support.
Indian shares have joined the recent global rally with gusto, along with some help from macro data and hopes of an above-normal monsoon, with analysts saying that the market at least has some more ground to cover.
The Nifty today bounced back strongly today, rising 116 points, crossing a key resistance zone of 7,550-7,600.
In this CNBC-TV18 report, Head of Research Varinder Bansal lists stocks that are trading close to their 200 day moving averages (DMA).
Indian shares are likely to track gains in Asian markets, and from Europe and US yesterday, after European Central Bank chief Mario Draghi held key rates and hinted at a fresh stimulus package.
Indian shares may open flat to marginally in the red, following a soft close on Wall Street overnight and as China yet again leads Asian markets lower.
With the market decline, which started at 8,800 on the Nifty, gathering pace, and the benchmark breaking below its 200 day moving average of 8,250, the bottom may still be some way off, according to technical analyst Jai Bala of 1857 Advisors.
Indian markets could continue their recent correction but its long-term bull market prognosis remains intact, according to stock broker Dipan Mehta, who added that if investors can't stomach at 15 percent fall in markets, they can't be successful in the asset class.
Global risk off sentiment engulfed markets owing to political uncertainty in Greece and global crude oil prices slipping to multi-year lows. But this is temporary, agree both global and domestic investors
Stocks close to their 200 DMA include Allahabad Bank, Andhra Bank, Union Bank, Arvind and Coal India
Fiscal deficit target will be a major component that will be watched out in the Vote on Account on Monday
Nifty 100 pts away from 200 DMA
The Nifty is trading well below its 200 Day Moving Average (DMA) of 5632. A moving average is the average price of a stock over a certain time frame. The 200-day moving average represents the average price over the past 200 trading days.
Last one hour of the March series has been riding high on volatility. The market was grinding at 5140-5150 in the morning but pulled up to 5170, well off the lows of the day, says Udayan Mukherjee, managing editor, CNBC-TV18.
Udayan Mukherjee, managing editor of CNBC-TV18 sums up the market as we gear for the closing today. The Nifty is currently well ahead of 5200 and the 200-day moving average.