Glossary
Updated
The terms Ebitta uses, defined the way its screens actually apply them.
Setups
- Base
- A sideways stretch where price pauses below a ceiling, from 15 sessions to two years, no deeper than 35%. Ebitta prefers bases where ranges and volume shrink in the second half.
- Breakout level
- The ceiling of the base: the price the stock must close above to break out. Shown as the blue Level line on charts.
- Contracting base
- A base whose daily ranges and volume both shrink in its second half, a sign that selling is drying up. Called a tightening base on cards.
- High base
- A shallow base, no deeper than 25%, sitting at or above earlier highs, so price is consolidating near its best levels.
- Outer base
- A larger base that encloses the selected one. If price is still below its ceiling, more overhead supply may lie ahead.
- Fresh breakout
- A close above the breakout level within the last 5 sessions, on at least 1.5× usual volume, and still no more than 5% above the level.
- Near breakout
- Strong stock with an established base, closing within 10% below its breakout level. Noteworthy favours those within about 3%.
- Continuing
- A breakout past its fresh window that still closes above its original level. Ebitta follows it until it closes back at or below the level.
- Reclaimed
- A breakout that closed back below its level, then recovered above it. Worth a look, with the earlier failure in mind.
- Closed
- A followed breakout that has closed at or below its original level. Kept for review, never mixed with current setups.
- Retest
- Price dips back to the breakout level intraday and still closes above it: the old ceiling acting as support.
- Ceiling test
- The day’s high touches the breakout level but the close stays below it. Unconfirmed until a close above.
- Momentum 3 · 5 · 7
- Higher closes and higher highs in recent sessions: 3 of 3, 4 of 5 or 5 of 7, with the latest close and the window’s return positive.
- Confluence
- Four checks agree on one close: price above EMA10 and EMA20, MACD histogram positive and not shrinking, RSI at least 55 and rising, and volume at least 1.5× usual.
- Extended
- Price far above its 50-day average: more than three average daily ranges. Strong, but chasing is riskier; Noteworthy lists these later.
Indicators
- Relative strength (RS)
- A 1–99 rank of the past year’s performance, weighting the latest 3 months most (40%). Breakout setups need at least 70.
- 50-day and 200-day average
- The average close of the last 50 and 200 sessions. Above both is an uptrend; breakout setups require it. Brown and violet lines on charts.
- EMA10 and EMA20
- Exponential moving averages that weight recent closes more, so they react faster. Confluence needs price above EMA10, and EMA10 above EMA20.
- MACD
- Moving Average Convergence Divergence (12, 26, 9): the gap between a fast and slow EMA. Rising MACD means short-term momentum is improving.
- MACD histogram
- The bars showing MACD minus its signal line. Positive and growing bars mean momentum is strengthening; shrinking bars mean it is fading.
- RSI
- Relative Strength Index (14, Wilder): 0–100 balance of recent gains and losses. Confluence needs 55 or more and no lower than three sessions ago.
- Breakout volume
- The breakout day’s volume against the median of the previous 20 sessions. 2.0× means twice the usual shares traded.
- Average true range
- The typical daily price range, including gaps. Ebitta uses it to spot shrinking ranges in a base and to judge how extended a stock is.
- 52-week high
- The highest price of the past year. Holding near it shows sustained demand.
Market
- Breadth
- The share of eligible stocks above their 50-day and 200-day averages: the market’s weather. Broad participation supports breakouts.
- Sector participation
- How many of a sector’s eligible stocks are above their 50-day average, such as 40 of 137. The bar beside each sector.
- Trending sector
- A sector with at least half its stocks above their 50-day average, strength up over the month, a positive median return and at least one setup today.
- Mainboard and SME
- Mainboard is the main exchange segment. SME platforms list smaller companies, trade in lots and are usually less liquid.
- Median daily turnover
- The typical value traded per day over 20 sessions, in ₹ crore or lakh. Ebitta’s floor is ₹10 lakh; below ₹50 lakh is shown in red.
- BSE-exclusive
- A company listed only on BSE. Ebitta uses NSE prices where both exist and adds BSE-only listings, shown with their BSE code.
Data
- Adjusted prices
- Past prices rescaled for splits, bonuses and rights so charts and returns compare like with like. Dividends are recorded but not adjusted.
- Split and bonus
- More shares for the same company: a 1:2 split or 1:1 bonus halves the price. Earlier prices are divided to match.
- Rights issue
- New shares offered to holders below market price. Ebitta adjusts by the theoretical ex-rights price, which blends old and new shares.
- Estimated adjustment
- When an exchange gives no usable ratio, Ebitta estimates it from the first traded price and labels it Estimated.
- Weekly candles
- Each candle combines a Monday–Sunday week of sessions. Auto switches to weekly when a long daily chart gets crowded.
- Close
- Every screen uses the official daily close. Nothing is intraday; lists update once after each market day.