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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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Market sell-off

Puneet WadhwaAvdhut Bagkar New Delhi / Mumbai
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.

ALSO READ: Markets may remain volatile with selling bias: IIFL Securities chairman

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-

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First Published: Sep 26 2022 | 11:32 AM IST

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