The Nifty is trading well below its 200 Day Moving Average (DMA) of 5632. A moving average is the average price of a stock over a certain time frame. The 200-day moving average represents the average price over the past 200 trading days.
The 200-day moving average represents the average price over the past 200 trading days. Technical analysts closely track the 200-day moving average.
The moving averages act as support and resistance for the underlying security. A fall below this average indicates breach of support and consider closing the position inferring the long term trend has turned bearish. 33 stocks in the Nifty are trading well below its 200 DMA.
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Dont see mkt going anywhere now; like Bharat Forge: Dipen