Two interesting charts: of the Net Nifty stocks above short and long term moving averages:
(Click for larger pictures)
I created them – using some code and downloaded data.
Turns out the 20 DMA line – red on the left chart – has bottomed out for this cycle and the longer term MA charts too have turned upwards. Will we then continue this uptrend till the DMA+ numbers zoom upwards? I need to check these charts more frequently.
I must extend this to see how far stocks are from their respective averages if they are above or below and then plot it. That way a stock being very close to its MA gets a lower weight than one that’s moved further away.