ITC, HDFC Bank, and 62 other stocks face stiff resistance at 200-DMA

The 200-DMA is acting as a major hurdle for major stocks like ACC Ltd, Adani Ports, and Asian Paints, among others

The Indian equity markets have been experiencing profit booking from the last few sessions; and this is in large part due to the 200-day moving average (DMA), which is acting as a resistance. The benchmark index S&P BSE Sensex and broader Nifty50 have 200-DMAs at 39,680 levels and at 10,890, respectively. 

As the indices try to conquer their 200-DMA levels, several stocks in the Nifty500 are also witnessing strong profit-booking. This average is acting as a firm hurdle for major stocks like ACC Ltd, Adani Ports and Special Economic Zone, Asian Paints , ITC Ltd, and Ujjivan Financial Services. There