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Over half of Nifty500 stocks dip below their 200-DMA. Is the fall overdone?

The fresh sell-off on Monday pulled another 37 stocks below 200-DMA taking the total tally to 268

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The recent correction, technical analysts said, has dampened the overall sentiment as the significant support levels were breached and weakness in the global markets amid upcoming key domestic data have put a sense of nervousness among market participants

Puneet Wadhwa Avdhut Bagkar New Delhi / Mumbai

4 min read Last Updated : Sep 26 2022 | 10:17 PM IST

Markets have mostly been on a downward spiral since last week when the US Federal Reserve (US Fed) hiked rates by 75 basis points – the third such hike in 2022. The S&P BSE Sensex and the Nifty50 have tumbled over 1 per cent each since then, and have turned negative in 2022 as regards the overall returns.

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The selling, technical indicators suggest, has dragged 268 stocks (over half) that comprise the Nifty500 index below their respective 200-day moving average (DMA). For long-term investors, the 200-

Topics : Bearish market Market sell off Buzzing stocks Markets Sensex Nifty S&P BSE Sensex Nifty50 stocks technical analysis Market technicals Daily technicals