SENTIMENT INDICATORS

200-DMA INDICATOR [EasyDNNnews:PaidContentStart]
The 200-day moving average (DMA), a key indicator of long-term market breadth, showed a slight improvement in the Nifty 50’s internal strength this week. Between 20 November 2025 and 26 November 2025, the number of Nifty constituents trading above their 200-DMA rose from 74 to 76, while those below the long-term trendline eased from 26 to 24. This marginal improvement in breadth came even as the Nifty itself gained 0.05 per cent, suggesting that the index’s move, though modest, was supported by a slightly broader set of stocks. Stock-specific trends offered further insight. Infosys (INFY) and Tech Mahindra (TECHM) climbed back above their 200-DMA, reflecting renewed traction in select IT counters. On the other hand, Adani Enterprises (ADANIENT) slipped below this key trend indicator, signalling fatigue or consolidation in the heavyweight stock. Overall, the latest breadth reading points to a market that remains stable, with a mild uptick in internal strength. Investors may prefer to stay 

aligned with fundamentally resilient names holding above their 200-DMA, while keeping an eye on stocks drifting below this crucial long-term trendline, as those could indicate emerging weakness. 

SECTORAL SENTIMENT INDICATOR
The sectoral 200-day moving average (200-DMA) indicator for 26 November 2025 displayed a mostly stable but mildly uneven market breadth across Nifty sectoral indices. While many sectors showed no meaningful change, a few recorded clear movements that reveal where underlying strength and softness are emerging. Nifty IT was the standout mover of the week, posting a 20 per cent jump in the share of constituents trading above their 200-DMA. This improvement signals a noticeable revival in sentiment for IT stocks, hinting at early signs of buying interest after a prolonged period of underperformance. Nifty Pharma also inched higher, registering a 5 per cent increase, suggesting steady defensive positioning and selective accumulation within the sector. In contrast, several sectors experienced weakening breadth. The most prominent decline came from Nifty Realty, which fell 10 per cent, indicating a clear cooling of momentum after a strong rally earlier in the quarter. Nifty Metal and Nifty PSU Bank also softened, slipping 6.67 per cent and 8.33 per cent, respectively; reflecting mild pressure in cyclicals and public-sector lenders. Meanwhile, Nifty Financial Services, 

Nifty Private Bank, Nifty Auto, Nifty FMCG, Nifty Media, and Nifty Bank all remained unchanged, signalling a week of consolidation rather than sector rotation. Overall, the sectoral breadth for the week paints the picture of a market that is steady on the surface but displaying selective shifts beneath it. IT and Pharma showed fresh signs of strength, while Realty, Metals, and PSU Banks softened. With most sectors flat, the broader market continues to move in a wait-and-watch rhythm, even as the Nifty shows a mildly improving trend. 

Indicator To Gauge Internal Strength
This indicator assesses the broader market’s internal strength by tracking how many Nifty 500 constituents are hitting fresh 52-week highs versus those marking new 52-week lows. A higher count of new highs typically signals broad-based bullish participation, whereas an uptick in new lows can indicate emerging weakness beneath the surface. For the week ended 26 November 2025, the market’s internal tone showed mild improvement. The number of Nifty 500 stocks registering new 52-week highs increased from 1 to 2, while those falling to new 52-week lows eased from 2 to 1. Although the changes are modest, the shift reflects a slight strengthening of breadth, with more stocks participating on the upside and fewer slipping into new lows. During the same period, the Nifty 500 index inched up 0.20 per cent, rising from 23,906.3 to 23,955.2. The index’s gain, accompanied by a better high-low configuration, suggests a marginally healthier undertone compared to last week. Overall, while the breadth improvement is not strong enough 

to signal a decisive trend, the rise in new highs and drop in new lows indicate a stabilising market. A more pronounced expansion in new highs, supported by continued contraction in lows, would help confirm a stronger, broad-based upswing in the weeks ahead.

*LEGEND: ▪️DMA - Daily Moving Average. ▪️ MACD - Moving Average Convergence Divergence ▪️ RMI - Relative Momentum Index ▪️ ROC - Rate of Change ▪️ RSI - Relative Strength Index

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