Bull market? Trend in these Nifty stocks just changed
Below are Nifty stocks that are close to their 200 DMA levels. A breach of 200-day moving average means that stocks' major trend has officially turned negative
Indian market witnessed its biggest single day fall in almost five years. Sensex slid 3 percent or 857 points at 26,987 and Nifty cracked 251 points at 8172 levels on Tuesday owing to political uncertainty form Greece and global crude oil slipping to multi-year lows.
Ashutosh Raina of HDFC Bank said, "The risk-off sentiment appears to have engulfed the global markets with oil prices hitting 5-year lows and political uncertainty in Greece forcing investors to move to safe havens.”
Nymex crude dropped over 5 percent to USD 50 a barrel, while Brent crude tumbled towards USD 53 after data showed Russian oil output at post-Soviet era highs and Iraqi oil exports at near 35-year peaks.
Below are some Nifty stocks that are close to their 200 DMA levels. A breach of 200-day moving average means that stocks' major trend has officially turned negative.
|Scrip Name||Last Price (Rs)||200 DMA level (Rs)||Away from 200 DMA|