The CAPM MA20 Indicator has gone south, indicating a potential move down in the near future. It is constructed by taking the number of Nifty stocks above their 20 day moving averages and subtracting from it the number that are below; in effect, it gives an idea of breadth.
The indicator will oscillate between +50 and -50. What we also do is to take a 5 day average of the . . .