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

A recent rebound in benchmark indices has improved short-term market momentum, but it is not yet strong enough to signal a sustained bullish trend.The share of NSEs top 500 stocks trading above their 50-day moving average rose to 49% from 18% during the peak of the West Asia conflict, nearing pre-war levels of 50.5%, indicating recovery but not full strength.