90% of India’s top 500 stocks trading above 200-DMA. Time to press the sell button?

“While the majority of stocks trading above their 200-DMAs is a good sign, it also reflects the market breadth hovering in the overbought territory. This, however, does not show individual stocks are in an overbought zone, as that will be reflected by momentum indicators like RSI and MACD,” Gaurav Bissa of InCred Equities said.

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