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Nifty50 has found support at its 100-day moving average twice

On Friday, the index closed at 14,631, after dropping 264 points, or 1.8 per cent. Despite the sharp fall, the 50-share index currently trades above its 100-DMA of 14,459

Topics
NSE | Nifty50 | Equity markets

Sundar Sethuraman  |  Mumbai 

NSE, national stock exchange, nifty50
Less than 15 minutes before close, NSE and BSE announced they were extending trading hours from 3:45pm to 5pm.

The benchmark index has managed to find support around its 100-day moving average (DMA). Last month, the index slipped below that key technical indicator on April 12 and April 20 but managed to rebound. A fall below the 100-DMA is considered to be a bearish signal.

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First Published: Sun, May 02 2021. 23:31 IST
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