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The Underbellies of the Market

May 31, 2009

Its interesting to note, how the underbellies of the beast is, given the humongous move we have seen in this month. Not to sound interested, I would like to inform, talking heads [with all due respect to a few good men] are talking about a fundamental correction. I dont know fundamentals, I will inform you of this. I dont know PE,EPS, yada yada.  I want to learn about them, but I am afraid that, there are too many pseudo experts floating around eager to show you how good they are.  So I will stick to only basics, and not draw any conclusions. I will provide just facts and no results. I will show you the history and leave you to forge the future. Because remember, out there in the amphitheater called life nobody is as gifted as you are  and as curious as you are. Either way, its your cookie the way you eat it.

The Facts

Out of 1270 scrips trading in NIFTY EQ series (and present in my db), 1242 of them are trading above 20DAY EMA(DMA), 1227 of them are trading above 50 DMA,1197 of them are trading above 100 DMA and finally 985 tickers are trading above 200DMA.[Fig1]

NIFTY INTERNALS

FIg1: NIFTY INTERNALS

In the case of Midcaps, the BSE MIDCAPS indices  there are 189 stocks under the perview, out of which 186 stocks are trading above their 20DMA,183 were trading above their 50 DMA,181 were trading above their 100DMA and 166 were trading above their 200DMA[Fig2].

MidCap Internals

MidCap Internals

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