The number of index constituents trading above 200-DMA, another technical indicator, is also favourable. At present, 70% of the Nifty 50 constituents are trading above the threshold — one of the highest among the all major markets, according to Bloomberg data.
Kaynes shares plunge 43% from October peak. Is a tactical rebound on the cards or more pain ahead?
Kaynes has plunged 43.5% from its October peak, with Friday’s 12.5% drop marking the steepest single-day decline. Momentum indicators remain bearish, signaling a risk of