Over 90% stocks in NSE 500 universe trade above 200-day moving average

It's a sign that the market has become overheated, say experts

More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period.
 
The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance. While a stock trading above its 200-DMA is usually considered to be in a bullish zone, such a large majority of stocks