344 stocks in Nifty 500 index are indicating a bullish trend, shows MACD

The moving average convergence divergence (MACD) is a technical indicator that helps to understand the changes in the strength, momentum, and direction of any stock/security. The relationship between two moving averages helps to determine the buy or sell signal with the assistance of a 'signal line'. MACD also helps to gauge the strength and direction of any stock/security on the basis of the zero line. This zero line indicates the bullish and bearish sentiment. When MACD value trades above the zero line, the trend and direction are said to be bullish and when it is below the zero line, it indicates a bearish sentiment.

Among Nifty500 stocks, as many as 344 counters are trading above the zero line with extreme bullishness. This signals a positive strength with momentum staying strong in the upward direction. Whenever the counter shows strength and does not fall below the zero line, it suggests the corrective moves are witnessing buying momentum and the price is holding a firm strength.

The list includes names such as Aarti Industries Limited, Adani Ports and Special Economic Zone Limited (APSEZ), Alkem Laboratories Limited, Cipla Limited, CRISIL Limited, Granules India Limited, Vodafone Idea Limited, Jyothy Labs Limited, Rain Industries Limited, V-Mart Retail Limited, and Zydus Wellness Limited.

Out of these 344 stocks, 211 stocks are trading with a positive crossover. This scenario indicates that over 50 per cent stocks are signalling positive bias with their firm convergence along the signal line. The overall trend suggests strong momentum and indicates prices to scale higher levels in the near term.

Here is the list of stocks that are trading above the zero line with a positve crossover

MACD : source : spidersoftwareindia.com

MACD : source : spidersoftwareindia.com

MACD : source : spidersoftwareindia.com