Number of stocks trading above 200-day ave:
Nifty 50: 66%
Nifty 500: 90%
Mid-Small 400: 70%
For Nifty 500 and Mid-Small 400, this happened last time in Jan 2018
Stocks trading above RSI 70. This shows stocks in strong momentum:
Nifty 50: 12%
Nifty 500: 26%
Mid-Small 400: 30%
Nifty 500 and 400 number are at historical high.
Stocks trading above 3% 14-day ATR for Nifty 50 and 5% for 500 and 400:
Nifty 50: 20%
Nifty 500: 18%
Mid-Small 400: 20%
Volatility is falling in all indices. Trend is stronger than volatility.
Trend > volatility & there is a broad participation.
Currently, Nifty is outperforming Gold, Currency, Bonds. Strong participation by Mid & Smallcaps. The ratio is at historical high but bullish.
At this participation, portfolios are doing good. Breakouts are working.
Short-term reversal or consolidation is possible. If volatility increases, then there is a possibility of correction in these numbers – go slow in breakout if that happens.
Overall trend is bullish.