On August 8, the closing prices of seven stocks in the Nifty500 pack rallied over 0.5% relative to their VWAP (Volume Weighted Average Price), and a shift above the VWAP suggests a potential bullish trend, according to stockedge.com’s technical scan data.
When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume. This occurrence is often interpreted by traders and investors as a potential bullish signal, potentially indicating positive market sentiment.