The NSE Nifty50 has seen a strong uptrend in the last seven trading sessions, with the index surging as much as 3.4 per cent to above 19,900-odd levels. The NSE benchmark is now less than 0.5 per cent from its all-time high of 19,992.
Meanwhile, the Nifty 500 index has jumped nearly 4 per cent during this period. The overall breadth of the market too is extremely positive, with as many as 464 out of the Nifty 500 stocks trading above their respective long-term daily moving averages (200-DMA).
Technically, if the stock is trading consistently above the 200-DMA it is considered to be in an uptrend. Given the fact that more than 90 per cent of the Nifty 500 stocks