Strike Diffusion Indicator Update: % of Stocks Away from 20DMA (#NiftySmallcap100)

👉The Nifty Smallcap 100 index is sharply declining, with only 4% of stocks trading above their 20DMA, signaling extreme short-term oversold levels. 📉

👉Historically, readings near or below 10 have triggered short-term pullbacks or relief rallies, if not major bottoms. 📌

👉Currently, the index is near the lower end of a falling channel on the daily chart. With a 10-month low reading of 4, conditions point to a potential relief rally.

Is the selling overdone? 📊
#Nifty #strikemoney #trends