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NSE ABOVE SMA [ILuvMarkets]

1 609
This indicator calculates the percentage of stocks trading above their respective SMA's across all the NSE symbols and plots 4 lines

% of Stocks above SMA 20
% of Stocks above SMA 50
% of Stocks above SMA 100
% of Stocks above SMA 200

When all the lines are above 80%, Market is assumed to be overheated and a correction might come.

Similarly, when all the lines are below 20%, Market is assumed to be oversold and a rally might start.

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