D-Street gets a bit of momentum, don’t take it for long bounce

Benchmark stock indices’ rebound over the past week has boosted a key short-term technical indicator, but the bounce remains insufficient to confirm a long-term bullish trend.About 49% of the top 500 stocks on NSE traded above their 50-Day Moving Averages (DMAs) on April 13, against 18% on March 19 — the peak of the West Asia conflict, according to data from Axis Securities.The 50-day moving average (50 DMA) tracks the average price of a stock or index over the past 50 trading sessions and is wi...