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43 Nifty, 27 Sensex stocks trade above 200-DMA. Analysts see more upside

For the S&P BSE Sensex and the Nifty50, the 200-DMA is placed at 60,570 and 17,947 levels.

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Markets at all-time high

Puneet WadhwaAvdhut Bagkar Mumbai

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With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA).

 The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off.
 
 Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys,

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First Published: Jun 30 2023 | 10:17 AM IST

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