Nifty Consumer Durables Advance / Decline

What Nifty Consumer Durables Advance / Decline Shows

Advances and declines

An advance is a stock that closed above its previous close; a decline closed below it. Counting them for the stocks of Nifty Consumer Durables shows how many stocks took part in the day's move, which the index level alone cannot tell you: an index is weighted by company size, so a handful of heavyweights can lift it while most of its stocks fall.

A/D ratio

Advances divided by declines. Above 1 means more stocks rose than fell. Because small indices such as Nifty Bank (15 stocks) or Nifty IT (10 stocks) have few members, one stock moves their ratio a lot; read them as counts, not as fine-grained ratios.

A/D line

A running total of advances minus declines, day after day. It is compared with the index: if the index makes a new high but the A/D line does not, fewer stocks are carrying the rise (a divergence). The line's level means nothing on its own; only its direction matters.

% of stocks above their 20, 50 and 200-day averages

For every stock we check whether it closed above its own moving average. The 20-day reading changes fast and shows short-term participation; the 200-day reading shows how many stocks are in long-term uptrends. Below 20% has described washed-out markets and above 80% stretched ones, but these are descriptions, not timing signals.

52-week highs and lows

Stocks whose high (or low) of the day went beyond their highest high (lowest low) of the previous 251 sessions. Many new highs show strong leadership; many new lows show damage spreading.

McClellan oscillator

The 19-day minus the 39-day exponential average of (advances − declines) ÷ (advances + declines) × 1000. Above zero, breadth has been improving; below zero, worsening. We show it only for indices with 100 or more stocks, because on small indices it is mostly noise.

How We Calculate It

Data

NSE's official end-of-day equity bhavcopy for every trading day, with NSE's own previous close (already adjusted for splits, bonuses and other corporate actions). Series EQ, BE and BZ are counted; ETFs and other funds are left out. Index levels come from NSE's daily index closing file.

Index members

We use NSE's published constituent lists and save them every day, so from launch each session is counted with the members on that day. Sessions before launch use the first saved list, which can include stocks that joined the index later. "All NSE stocks" has no such bias: it counts every listed stock that traded that day.

Moving averages and 52-week highs

Calculated on prices adjusted for splits and bonuses, so a 1:5 split does not show up as an 80% crash. A stock needs 20, 50 or 200 sessions of history before it is counted in the matching reading, and 251 sessions before it can make a 52-week high or low.

Timing

NSE publishes the files around 4:30 pm IST; the page updates after the evening run. Intraday moves are not shown.

What Our Backtest Found

Breadth explains the day, not the next one

On every NSE stock from January 2023 to October 2026 (929 sessions), the share of stocks rising matched the direction of the NIFTY 50 on 73% of days. For the next day it was a coin flip: a positive breadth score was followed by a NIFTY gain 54% of the time, against 53% for any day. Breadth tells you what happened, not what happens next.

Streaks and extremes

Days when 80% or more of all stocks rose (29 days in 15 separate episodes) were followed by a higher NIFTY five sessions later 76% of the time, averaging +1.19% against +0.14% for all weeks. Days when 20% or fewer rose saw a mild average rebound. Runs of declines (declines leading 7 of the last 10 sessions) and the McClellan oscillator showed no useful edge.

Washouts and breadth thrusts

When fewer than 20% of stocks traded above their 200-day average, the NIFTY was higher 20 sessions later 81% of the time, but that came from only three episodes (2025 and 2026), too few to rely on. The Zweig breadth thrust fired three times on all NSE stocks, followed by +4.3%, -1.2% and +0.8% over the next month: mixed.

How to use it

Use breadth to understand how the index moved: a broad advance has most stocks behind it, a narrow one rests on a few heavyweights. Treat the history as context for risk, not as a buy or sell signal. This page is for education only.

Nifty Consumer Durables Advance / Decline: Frequently Asked Questions

Advance / decline for other NSE indices