Close 11 Sep 1700 scanned A
NIFTY 5023,398.10-0.34%
BANK NIFTY56,606.55+0.24%
INDIA VIX12.29+4.15%
MIDCAP 15022,847.85-0.25%
SMALLCAP 25018,339.90-0.51%
NEXT 5072,083.70-0.62%
BREADTH60%above 200-DMA
ADV / DEC597 / 1,094
NSE close 11 Sep

The reading room

Every rule this site runs, every kind of evidence, and every term on its pages, explained in plain words with tonight’s number beside it. 57 rules, 5 families, one convention for the record. Free to read; the names behind the numbers are on the desk.

Trend

10 rules
Where the price sits against its own moving averages. Slow to change; a stock that is above its 200-day line tonight was almost certainly above it last night. Trend rules describe the phase, not the day.
Above the 200-day EMA945
Rule: Close above the 200 EMA

The broadest 'is this a bull or bear phase' filter. On most days the majority of the universe is above it, so being below it is the rarer state.

Tonight: 945 of 1,700 companies, 56% of the universe — a market-wide filter tonight, shown but not counted as evidence48% of past matches were higher 20 sessions later, +0.16% against the market, over 156,209 matches
Tonight’s list, for members →
Beating the market for 6 months740
Rule: 6-month relative strength leaders

Outperforming over half a year. Money has been rotating into these consistently.

Tonight: 740 of 1,700 companies, 44% of the universe — a market-wide filter tonight, shown but not counted as evidence49% of past matches were higher 20 sessions later, +0.50% against the market, over 60,366 matches
Tonight’s list, for members →
The market's strongest stocks475
Rule: Stage 2 uptrend — trend template

Above the 50, 150 and 200-day averages in the right order, with the 200-day rising.

Tonight: 475 of 1,700 companies, 28% of the universe51% of past matches were higher 20 sessions later, +0.59% against the market, over 51,498 matches
Tonight’s list, for members →
Short averages stacked in order344
Rule: EMA 5 > 13 > 26, price above all three

Every short-term average lined up bullishly, with price on top. Momentum is aligned across timeframes rather than on one.

Tonight: 344 of 1,700 companies, 20% of the universe47% of past matches were higher 20 sessions later, -0.14% against the market, over 90,350 matches
Tonight’s list, for members →
Back above the 200-day line140
Rule: Reclaimed the 200 DMA

The 200-day average is the line most investors use to separate a bull from a bear phase.

Tonight: 140 of 1,700 companies, 8% of the universe45% of past matches were higher 20 sessions later, -0.74% against the market, over 33,728 matches
Tonight’s list, for members →
MACD just turned negative87
Rule: MACD crossed below signal

Momentum rolling over: the MACD line has just crossed below its signal line.

Tonight: 87 of 1,700 companies, 5% of the universe47% of past matches were higher 20 sessions later, -0.31% against the market, over 14,045 matches
Tonight’s list, for members →
Golden cross — 50 crossed above 20057
Rule: 50 DMA crossed above the 200 DMA

The most-watched long-term crossover in the market. Slow, but widely acted on.

Tonight: 57 of 1,700 companies, 3% of the universe47% of past matches were higher 20 sessions later, -0.14% against the market, over 14,104 matches
Tonight’s list, for members →
Death cross — 50 crossed below 20038
Rule: 50 DMA crossed below the 200 DMA

The bearish mirror of the golden cross. Late by nature, but it changes how funds treat a name.

Tonight: 38 of 1,700 companies, 2% of the universe45% of past matches were higher 20 sessions later, -0.89% against the market, over 9,505 matches
Tonight’s list, for members →
MACD just turned positive37
Rule: MACD crossed above signal

The most common momentum trigger. It confirms a turn that has already begun rather than predicting one.

Tonight: 37 of 1,700 companies, 2% of the universe49% of past matches were higher 20 sessions later, +0.56% against the market, over 14,089 matches
Tonight’s list, for members →
Rising without the drama13
Rule: Low-volatility uptrend

Trending up with small daily swings: among the lowest 60-day volatility in the universe while above its averages.

Tonight: 13 of 1,700 companies, 1% of the universe49% of past matches were higher 20 sessions later, -0.89% against the market, over 5,992 matches
Tonight’s list, for members →

Momentum

12 rules
How fast the price has been moving and whether it is still speeding up: new highs, relative strength against the rest of the universe or the sector, breakouts on volume. These need a trending market to work and say so.
Tightest range in 4 days415
Rule: Narrow Range 4 (NR4)

A shorter-fuse version of NR7. Quiet days cluster before loud ones.

Tonight: 415 of 1,700 companies, 24% of the universe47% of past matches were higher 20 sessions later, -0.02% against the market, over 99,507 matches
Tonight’s list, for members →
Range is tightening225
Rule: Narrowest daily range in 7 sessions

Today's high-to-low was the smallest in a week. Volatility contracts before it expands — it does not say which way.

Tonight: 225 of 1,700 companies, 13% of the universe47% of past matches were higher 20 sessions later, -0.14% against the market, over 58,143 matches
Tonight’s list, for members →
Trading far more than usual207
Rule: Volume surge vs the 20-day average

Volume many times a normal day. Something is happening — news, a block deal, or a breakout.

Tonight: 207 of 1,700 companies, 12% of the universe48% of past matches were higher 20 sessions later, +0.46% against the market, over 53,330 matches
Tonight’s list, for members →
Closing in on a 52-week high190
Rule: Near the 52-week high

No trapped sellers overhead — nobody who bought above is waiting to get out at breakeven.

Tonight: 190 of 1,700 companies, 11% of the universe52% of past matches were higher 20 sessions later, +0.60% against the market, over 28,573 matches
Tonight’s list, for members →
Rising on most days lately159
Rule: Higher close on 4 of the last 5 sessions

Steady accumulation rather than a one-day spike. Counted as days-up-out-of-five rather than an unbroken streak, which one flat day would end.

Tonight: 159 of 1,700 companies, 9% of the universe46% of past matches were higher 20 sessions later, -0.19% against the market, over 44,503 matches
Tonight’s list, for members →
Leading its sector117
Rule: At least 8 points ahead of its sector's median stock over a month, and above its 50-day average

Not just up, but up more than the companies it is compared with. Sector medians come from our own universe grouped by NSE industry, so this is leadership among peers a fund manager would actually weigh it against.

Tonight: 117 of 1,700 companies, 7% of the universepast record not measured yet
Tonight’s list, for members →
Made a new 52-week high today62
Rule: New 52-week high

Broke above every price of the last year. Nobody holding it is underwater.

Tonight: 62 of 1,700 companies, 4% of the universe52% of past matches were higher 20 sessions later, +1.12% against the market, over 9,689 matches
Tonight’s list, for members →
Gapped up and held it36
Rule: Gap up, closed in top third

Opened above yesterday's close and finished strong instead of fading. The fade is the common outcome, so holding is the signal.

Tonight: 36 of 1,700 companies, 2% of the universe56% of past matches were higher 20 sessions later, +2.83% against the market, over 11,705 matches
Tonight’s list, for members →
Breaking out of a tight range30
Rule: 60-day consolidation breakout

Traded in a narrow band for three months, and is now pushing through the top of it. The tighter the band, the cleaner the breakout.

Tonight: 30 of 1,700 companies, 2% of the universe46% of past matches were higher 20 sessions later, -0.86% against the market, over 14,676 matches
Tonight’s list, for members →
Bought to keep0
Rule: High-delivery up day

An up day where an unusually large share of the volume was taken into demat accounts rather than squared off by the close: delivery at least one and a half times its own 20-day median, and above 40% of the day's volume.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →
Quiet delivery build-up0
Rule: Five-day delivery share well above its own norm while the price went nowhere

Over the last five sessions a much larger share of the volume than usual was taken into demat accounts, and the price barely moved: shares changing hands from traders to holders without a move to show for it yet. Delivery averaged at least 1.3 times its 20-day median, the week's move within 3%.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →
Unusually large trades0
Rule: Average trade size at least twice its 20-day median, on above-normal volume

The day's turnover came in far fewer, far larger trades than usual: the footprint of size being dealt, whoever was dealing it. Read with the price: large tickets on an up day and on a down day are different facts.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →

Fundamental

17 rules
What the company filed, read from its own quarterly XBRL: revenue and profit growth, margins, cash conversion, borrowings, and now who owns it. Slowest of all.
Consistently growing and profitable760
Rule: Profitable in all four recent quarters with revenue up more than 15% year on year

Nothing clever here. Companies that have simply kept growing and kept earning, which is rarer than it sounds and is the base most long-term positions are built on.

Tonight: 760 of 1,700 companies, 45% of the universe — a market-wide filter tonight, shown but not counted as evidence49% of past matches were higher 20 sessions later, +0.51% against the market, over 117,484 matches
Tonight’s list, for members →
Profit jumped this quarter552
Rule: Profit up more than 30% year on year with revenue also higher

The revenue condition matters. Profit can leap on a one-off — an asset sale, a tax writeback — and look identical in the numbers. Requiring revenue to rise too filters most of those out, though not all: check the filing before believing it.

Tonight: 552 of 1,700 companies, 32% of the universe50% of past matches were higher 20 sessions later, +0.65% against the market, over 84,077 matches
Tonight’s list, for members →
Keeping more of every rupee422
Rule: Net margin up at least 2 points year on year, on higher revenue

Margin expansion on rising revenue is operating leverage — the same business getting more profitable as it scales. Margin up on FALLING revenue is cost-cutting, which is a different and more fragile story, so revenue growth is required too.

Tonight: 422 of 1,700 companies, 25% of the universe49% of past matches were higher 20 sessions later, +0.58% against the market, over 71,882 matches
Tonight’s list, for members →
Growth that is speeding up381
Rule: Revenue YoY accelerating vs the prior quarter, with profit also growing

Not just growth — a SECOND derivative. A company growing 20% after growing 10% is telling you something a company growing a steady 20% is not. Acceleration is what forces analysts to revise, and revisions are what move price.

Tonight: 381 of 1,700 companies, 22% of the universe50% of past matches were higher 20 sessions later, +0.79% against the market, over 57,921 matches
Tonight’s list, for members →
Improving business in an uptrend371
Rule: Margin expanding year on year, price above the 200-day average, three-month return positive

Fundamental improvement confirmed by the chart rather than argued against it. The slowest-moving screen here: its members change over months, not days.

Tonight: 371 of 1,700 companies, 22% of the universe49% of past matches were higher 20 sessions later, +0.41% against the market, over 51,843 matches
Tonight’s list, for members →
Growing fast, sold off anyway273
Rule: Revenue up more than 20% year on year with RSI below 40

A deliberately uncomfortable screen. The accounts improved and the price fell, so either the market knows something the last filing does not show, or it has overreacted. This does not tell you which — it tells you where to look.

Tonight: 273 of 1,700 companies, 16% of the universe51% of past matches were higher 20 sessions later, +1.11% against the market, over 29,180 matches
Tonight’s list, for members →
Profit that turns into cash171
Rule: Operating cash flow at least 80% of trailing profit, revenue growing

Reported profit is an opinion; cash is a fact. When a company books earnings that never arrive as cash, the gap is sitting in receivables or inventory, and that is how accounting problems begin.

Tonight: 171 of 1,700 companies, 10% of the universe59% of past matches were higher 20 sessions later, +2.73% against the market, over 9,184 matches
Tonight’s list, for members →
Growing fast and near a high162
Rule: Revenue up more than 20% year on year and within 5% of the 52-week high

The two disciplines agreeing. Price near a high says the market has noticed; revenue growth says there is something to notice. Either alone is common; together is not.

Tonight: 162 of 1,700 companies, 10% of the universe53% of past matches were higher 20 sessions later, +0.97% against the market, over 15,457 matches
Tonight’s list, for members →
More cash than borrowings121
Rule: Net debt negative, profitable across the last four filed quarters

A company that owes less than it holds cannot be forced by a lender. It is the cheapest form of resilience there is, and it is rarer in India than most people assume.

Tonight: 121 of 1,700 companies, 7% of the universe55% of past matches were higher 20 sessions later, +1.47% against the market, over 6,919 matches
Tonight’s list, for members →
Profit falling while the price holds up105
Rule: Profit down more than 25% year on year with the stock still above its 200-day average

On the risk side deliberately. The accounts have deteriorated and the chart has not caught up yet. Sometimes the market is right and the next quarter recovers; sometimes it is the last quiet moment before a de-rating.

Tonight: 105 of 1,700 companies, 6% of the universe44% of past matches were higher 20 sessions later, -0.71% against the market, over 19,179 matches
Tonight’s list, for members →
Earns well on the capital it uses96
Rule: Return on capital above 18% with debt to equity under 1

The single number a fundamental investor reaches for first. A business earning 18% on its capital is compounding; one earning 8% is running to stand still. The leverage condition matters because return on capital is trivially inflated by borrowing more.

Tonight: 96 of 1,700 companies, 6% of the universe54% of past matches were higher 20 sessions later, +1.08% against the market, over 4,293 matches
Tonight’s list, for members →
Profit on paper, not in cash87
Rule: Profitable on the P&L but operating cash flow below 40% of profit

On the risk side deliberately. This is not proof of anything wrong — a genuinely growing company funds working capital and shows exactly this pattern. It is a reason to open the cash flow statement rather than to trust the profit line.

Tonight: 87 of 1,700 companies, 5% of the universe55% of past matches were higher 20 sessions later, +1.99% against the market, over 3,884 matches
Tonight’s list, for members →
Back in profit74
Rule: Profitable now after a loss in the year-ago quarter

The most violent re-rating in the market, and the least reliable. One profitable quarter after a loss is not a trend — it is a data point. The measured edge on this screen is the only thing worth trusting about it.

Tonight: 74 of 1,700 companies, 4% of the universe48% of past matches were higher 20 sessions later, +0.56% against the market, over 12,636 matches
Tonight’s list, for members →
Heavily borrowed and earning less3
Rule: Debt to equity above 2 with profit down year on year

Leverage is only a problem when earnings fall, which is precisely the combination here. Interest does not decline with profit.

Tonight: 3 of 1,700 companies, 0% of the universe39% of past matches were higher 20 sessions later, +1.33% against the market, over 189 matches
Tonight’s list, for members →
Just reported, and grew1
Rule: Results filed within the last 15 sessions, revenue and profit both up year on year

The short-term fundamental screen. Reaction to a result is not instant — it plays out over days as institutions read the filing and revise. This looks for companies in that window, which is the only place a fundamental fact behaves like a short-term signal at all.

Tonight: 1 of 1,700 companies, 0% of the universe45% of past matches were higher 20 sessions later, -0.99% against the market, over 30,063 matches
Tonight’s list, for members →
Promoters raised their stake0
Rule: Promoter holding up at least 0.5 points on the previous quarter's filing

The people who run the company own more of it than they did a quarter ago, by the shareholding pattern they filed. Creeping acquisition, a preferential issue or a buyback can all do this; the filing says how much, not why.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →
Promoters bought into weakness0
Rule: Promoter holding up at least 0.5 points on the quarter while the price is down 5% or more over three months

The people who know the company best added to their holding while the market was marking it down. The filing gives the size of the purchase, not the reason; the price column gives the context.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →

Pattern

10 rules
The shape of the last few sessions: candles, gaps, a pullback to a line, a range tightening. Short-lived by nature and measured over days, not months.
Opened and closed at the same price249
Rule: Doji

Buyers and sellers finished level. Indecision — it matters most after a long run.

Tonight: 249 of 1,700 companies, 15% of the universe47% of past matches were higher 20 sessions later, +0.05% against the market, over 40,269 matches
Tonight’s list, for members →
Uptrend taking a breather242
Rule: Pullback to the 50 DMA in an uptrend

Still above its long-term average, but cooled off short term: the price has come back to its 50-day line without breaking the longer trend.

Tonight: 242 of 1,700 companies, 14% of the universe48% of past matches were higher 20 sessions later, -0.14% against the market, over 34,613 matches
Tonight’s list, for members →
Inside bar — quieter than yesterday154
Rule: Inside bar

Today's whole range fits inside yesterday's. A pause, and often a coil before a move.

Tonight: 154 of 1,700 companies, 9% of the universe46% of past matches were higher 20 sessions later, -0.33% against the market, over 52,155 matches
Tonight’s list, for members →
Oversold, but trend intact152
Rule: RSI oversold above the 200 DMA

Sold off hard while still above its long-term average. The riskiest slice here — cheap and still falling looks identical to cheap and about to turn.

Tonight: 152 of 1,700 companies, 9% of the universe49% of past matches were higher 20 sessions later, +0.34% against the market, over 17,886 matches
Tonight’s list, for members →
Hammer — long tail below142
Rule: Hammer / pin bar

Sold off hard during the day, then closed back near the top. Buyers defended a level.

Tonight: 142 of 1,700 companies, 8% of the universe50% of past matches were higher 20 sessions later, +0.41% against the market, over 10,927 matches
Tonight’s list, for members →
Bullish engulfing114
Rule: Bullish engulfing candle

Yesterday closed down; today opened lower and closed above yesterday's open, swallowing the whole bar. Buyers took control within a session.

Tonight: 114 of 1,700 companies, 7% of the universe45% of past matches were higher 20 sessions later, -0.59% against the market, over 13,809 matches
Tonight’s list, for members →
Closed at the day's high53
Rule: Close in top 5% of range

Finished the session at its strongest point. Buyers were still bidding at the bell.

Tonight: 53 of 1,700 companies, 3% of the universe52% of past matches were higher 20 sessions later, +3.63% against the market, over 2,991 matches
Tonight’s list, for members →
Bearish engulfing46
Rule: Bearish engulfing candle

Yesterday closed up; today opened higher and closed below yesterday's open. Sellers took control within a session.

Tonight: 46 of 1,700 companies, 3% of the universe45% of past matches were higher 20 sessions later, -0.65% against the market, over 21,437 matches
Tonight’s list, for members →
Long tail above — rejected higher29
Rule: Shooting star / inverted pin

Pushed up during the day and gave it all back by the close. Sellers defended a level.

Tonight: 29 of 1,700 companies, 2% of the universe48% of past matches were higher 20 sessions later, +0.34% against the market, over 16,692 matches
Tonight’s list, for members →
Closed at the very top of its range16
Rule: Bullish marubozu

Almost no wick — it opened near the low, closed near the high, and never looked back.

Tonight: 16 of 1,700 companies, 1% of the universe48% of past matches were higher 20 sessions later, +0.49% against the market, over 5,930 matches
Tonight’s list, for members →

Risk

8 rules
Something going wrong: heavy-volume falls, a lost 200-day line, a stretch far above trend, profit that is not turning into cash, promoters selling or pledging. These are the rules the holdings page runs against your saved stocks.
Near a 52-week low245
Rule: Within 6% of the 52-week low

Close to its worst price in a year. Every recent buyer is losing money, and they sell into strength — that is what makes these hard to hold.

Tonight: 245 of 1,700 companies, 14% of the universe50% of past matches were higher 20 sessions later, +0.38% against the market, over 48,405 matches
Tonight’s list, for members →
Stretched far above trend212
Rule: More than 15% above the 50 DMA

Run up a long way, fast: the close sits more than 15% above its own 50-day average, which is where most such runs have historically paused or given back.

Tonight: 212 of 1,700 companies, 12% of the universe49% of past matches were higher 20 sessions later, +0.87% against the market, over 27,245 matches
Tonight’s list, for members →
Lost the 200-day line126
Rule: Broke below the 200 DMA

Slipped under the average most investors use to separate a bull from a bear phase.

Tonight: 126 of 1,700 companies, 7% of the universe44% of past matches were higher 20 sessions later, -0.93% against the market, over 37,684 matches
Tonight’s list, for members →
Lagging its sector64
Rule: At least 8 points behind its sector's median stock over a month, and below its 50-day average

Its peers are doing something it is not. When a whole sector moves and one name stays behind, the gap is either an opportunity or a reason, and the filings usually say which.

Tonight: 64 of 1,700 companies, 4% of the universepast record not measured yet
Tonight’s list, for members →
Falling on heavy volume48
Rule: Distribution day

Down meaningfully on well above-average volume — a heavy session, whoever was selling.

Tonight: 48 of 1,700 companies, 3% of the universe52% of past matches were higher 20 sessions later, +1.45% against the market, over 11,619 matches
Tonight’s list, for members →
Sold and delivered0
Rule: Down at least 2% on a delivery share 1.5× its 20-day median

A down day where the selling was delivered, not squared off: the shares left demat accounts. Heavier than an intraday shakeout, and the kind of session that tends to have a holder behind it rather than a trader.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →
Promoters cut their stake0
Rule: Promoter holding down at least 1 point on the previous quarter's filing

The people who run the company own less of it than they did a quarter ago, by the shareholding pattern they filed. A stake sale, a dilution or a pledge being invoked can all do this; the filing says how much, not why.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →
Heavily pledged promoter stake0
Rule: At least a quarter of the promoter holding pledged or encumbered

A large share of the promoters' own holding is pledged as collateral. If the price falls far enough, the lender can sell those shares into the market, which is why pledged stakes fall harder in a bad week.

Tonight: 0 of 1,700 companies, 0% of the universepast record not measured yet
Tonight’s list, for members →

Terms

the words on every page, defined once
Kinds of evidenceThe count that matters everywhere on this site: how many families of rule point at a company, not how many rules. Five trend rules agreeing is one signal wearing five hats.
Market-wide filterA rule that matches more than 40% of the universe on a given night describes the market, not a company. It is shown as a chip and not counted.
Past recordEvery past match of a rule, followed forward from its own evening, measured against the median stock over the same sessions. Stated only once there are enough matches to mean something; losing rules are published beside winning ones.
The 15% lineA flag is followed from the evening it fires until its close is 15% below the flag close, or until tonight, whichever comes first. A flag that reaches the line is closed at that evening’s close and leaves the record there. This is how the record is kept, applied to every flag the same way. It is not an instruction to buy, hold or sell anything.
Market regimeTrending up, rangebound or falling, from breadth and the 60-session move of an equal-weight index of the whole universe. Momentum rules only worked in one of the three in the backtest, and their pages say which.
Delivery shareThe share of a day’s volume actually taken into demat accounts rather than squared off before the close, as NSE publishes it. A high-delivery up day is what the market calls ‘bought to keep’.
Average trade sizeThe day’s turnover divided by its number of trades. Large tickets are the footprint of institutions, small ones of retail.
Bulk and block dealsA bulk deal is a single trade of more than half a percent of a company’s shares; a block deal is a large trade negotiated off the order book. Both are disclosed the same day with the counterparty named. The same name on both sides of one stock on one day is an internal transfer and is removed.
Promoter holding and pledgeThe promoter group’s share of the company from the quarterly shareholding pattern, and how much of that holding is pledged as collateral. If the price falls far enough a lender can sell pledged shares into the market.
Institutional flowWhat foreign (FII/FPI) and domestic (DII) institutions bought and sold in the cash market on the day, net, as the exchange publishes after the close.
Sector rotationThe median stock of each sector, week by week, ranked; and how each rank moved against the four weeks before. A sector climbing on small positive weeks is being accumulated.
vs market, ptA stock’s move minus the median stock’s move over the same sessions, in percentage points. Zero means it did what the market did.
Nothing in this room is advice. A rule is a test; a record is what its past matches did; a term is a definition. What to do with any of it is yours to decide.