Is this the end of the bull market?
Subscribe to enjoy similar stories. MUMBAI : The Indian stock market has enjoyed an impressive rally in 2024, with benchmark indices such as the Nifty50 surging over 20% at its highs. Currently, the index sits at around 25,000, reflecting a gain of roughly 15%.
The upward trajectory has been driven by a consistent sector and segment rotation, moving from large-caps to mid-caps and small-caps, keeping the broader markets on a high. The Nifty Alpha 50 and the Nifty Next 50 have seen remarkable performances, with over 40% returns year-to-date (YTD) as of 15 October, and the Nifty Smallcap 250 is up by 31%. A cautious undertone is beginning to creep into market sentiment.
At Definedge, we have developed a study called DeMAP (Definedge Momentum & Performance Chart) designed to gauge the momentum and performance across various segments. The DeMAP chart now flashes warning signals, urging bulls to exercise caution. What is a DeMAP? Definedge Momentum and Performance (DeMAP) is a comprehensive market analysis tool developed by Definedgethat allows traders to assess market conditions at a glance.
It integrates popular studies such as price analysis, momentum indicators, relative strength, and various charting techniques like Point and Figure, Renko, and candlestick patterns. The DeMAP structure is divided into two parts: Sky and Water. Stocks above the zero line in the Sky are represented as stars, signalling bullish momentum, while those below the zero line in Water are shown as circles, indicating bearishness.
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