Comprehensive Market Analysis: Key Indices Overview (July 3, 2024)

In this detailed market analysis, we will explore the performance and technical indicators of key Indian stock market indices as of July 3, 2024. By examining various metrics such as the number of stocks in each index, close prices, percentage of stocks above different moving averages (20SMA, 50SMA, 100SMA, 200SMA), and the distribution of stocks across different performance zones, investors can gain valuable insights into market trends and potential opportunities.

Nifty 50

The Nifty 50 index, comprising 50 of the largest and most liquid stocks on the National Stock Exchange (NSE), closed at 24,123.85. Here are the key statistics for the index:

– 40% of stocks are above the Relative Strength (RS) 55-day average, indicating a moderate level of bullish momentum.
– 70% of stocks are above the 20-day Simple Moving Average (SMA), suggesting short-term bullishness.
– 86% of stocks are above the 50-day SMA, reinforcing the short to medium-term bullish sentiment.
– 78% of stocks are above the 100-day SMA, indicating sustained strength over the medium term.
– 88% of stocks are above the 200-day SMA, reflecting long-term bullishness.

In terms of distribution:

– 31 stocks are in the 1-month mid-zone, while 19 stocks are in the 1-month high zone.
– Over a 3-month period, 33 stocks are in the mid-zone, and 17 stocks are in the high zone.
– For the 6-month period, 32 stocks are in the mid-zone, and 17 stocks are in the high zone.
– In the 1-year timeframe, 22 stocks are in the mid-zone, and 28 stocks are in the high zone.

Nifty 500

The Nifty 500 index, which includes 501 stocks, closed at 22,677.8. Key insights include:

– 54% of stocks are above the RS (55 days), showing a balanced market sentiment.
– 73% of stocks are above the 20-day SMA, indicating short-term bullishness.
– 82% of stocks are above the 50-day SMA, supporting medium-term positive trends.
– 81% of stocks are above the 100-day SMA, showing sustained strength.
– 84% of stocks are above the 200-day SMA, reflecting long-term bullish trends.

Distribution data:

– 299 stocks are in the 1-month mid-zone, while 196 stocks are in the high zone.
– Over 3 months, 305 stocks are in the mid-zone, and 183 stocks are in the high zone.
– For 6 months, 301 stocks are in the mid-zone, and 184 stocks are in the high zone.
– Over the past year, 242 stocks are in the mid-zone, and 248 stocks are in the high zone.

Nifty Bank

The Nifty Bank index, consisting of 12 banking stocks, closed at 52,168.1. Key observations are:

– 42% of stocks are above the RS (55 days), indicating moderate momentum.
– 58% of stocks are above the 20-day SMA, showing short-term strength.
– 67% of stocks are above the 50-day SMA, reinforcing medium-term bullishness.
– 67% of stocks are above the 100-day SMA, suggesting sustained strength.
– 75% of stocks are above the 200-day SMA, indicating long-term bullishness.

Distribution highlights:
– 10 stocks are in the 1-month mid-zone, and 2 stocks are in the high zone.
– Over 3 months, 9 stocks are in the mid-zone, and 3 stocks are in the high zone.
– For 6 months, 7 stocks are in the mid-zone, and 4 stocks are in the high zone.
– In the 1-year timeframe, 8 stocks are in the mid-zone, and 4 stocks are in the high zone.

Nifty Financial Services

The Nifty Financial Services index, with 20 stocks, closed at 23,500.85. Key data points include:

– 55% of stocks are above the RS (55 days), showing moderate momentum.
– 85% of stocks are above the 20-day SMA, indicating strong short-term bullishness.
– 85% of stocks are above the 50-day SMA, supporting medium-term positive trends.
– 85% of stocks are above the 100-day SMA, showing sustained strength.
– 80% of stocks are above the 200-day SMA, reflecting long-term bullish trends.

Distribution details:

– 13 stocks are in the 1-month mid-zone, and 7 stocks are in the high zone.
– Over 3 months, 12 stocks are in the mid-zone, and 8 stocks are in the high zone.
– For 6 months, 11 stocks are in the mid-zone, and 9 stocks are in the high zone.
– Over the past year, 8 stocks are in the mid-zone, and 12 stocks are in the high zone.

Nifty Midcap Select

The Nifty Midcap Select index, comprising 25 stocks, closed at 12,217.25. Key statistics are:

– 56% of stocks are above the RS (55 days), indicating moderate bullish sentiment.
– 60% of stocks are above the 20-day SMA, showing short-term strength.
– 88% of stocks are above the 50-day SMA, reinforcing medium-term bullishness.
– 88% of stocks are above the 100-day SMA, suggesting sustained strength.
– 96% of stocks are above the 200-day SMA, reflecting strong long-term trends.

Distribution highlights:

– 14 stocks are in the 1-month mid-zone, and 11 stocks are in the high zone.
– Over 3 months, 14 stocks are in the mid-zone, and 11 stocks are in the high zone.
– For 6 months, 15 stocks are in the mid-zone, and 10 stocks are in the high zone.
– In the 1-year timeframe, 11 stocks are in the mid-zone, and 14 stocks are in the high zone.

Nifty Next 50

The Nifty Next 50 index, which includes 50 stocks, closed at 71,807.5. Key observations include:

– 60% of stocks are above the RS (55 days), indicating a bullish momentum.
– 54% of stocks are above the 20-day SMA, showing moderate short-term strength.
– 76% of stocks are above the 50-day SMA, supporting medium-term positive trends.
– 76% of stocks are above the 100-day SMA, indicating sustained strength.
– 96% of stocks are above the 200-day SMA, reflecting long-term bullish trends.

Distribution data:

– 34 stocks are in the 1-month mid-zone, and 15 stocks are in the high zone.
– Over 3 months, 37 stocks are in the mid-zone, and 13 stocks are in the high zone.
– For 6 months, 32 stocks are in the mid-zone, and 18 stocks are in the high zone.
– Over the past year, 19 stocks are in the mid-zone, and 31 stocks are in the high zone.

 Conclusion

This comprehensive analysis of key Indian stock market indices provides valuable insights into market trends and investor sentiment. By examining the percentage of stocks above various moving averages and the distribution of stocks across different performance zones, investors can better understand the current market dynamics. However, it is crucial to conduct thorough research and consult with a financial advisor before making any investment decisions. The information presented here is for educational purposes and should not be taken as financial advice.

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