RIL, BPCL: Nifty below 50-DMA; Key levels to watch on stocks below this DMA

33 out of Nifty 50 stocks trade below their respective 50-DMAs; Charts suggest that select stocks can decline up to 13% in case the fall extends towards the 100-DMAs.

The Nifty 50, on Tuesday, broke below its 50-DMA (Daily Moving Average) for the first time in the last four months, thus in a way signaling that that the short-term trend may have reversed for the NSE benchmark.

As the Nifty quoted below its 50-DMA as many 33 out of the Nifty 50 components were seen trading below their respective 50-DMAs. Among these 10 shares - Adani Ports, BPCL, HCL Technologies, Nestle, Power Grid Corporation, Reliance Industries, SBI Life, Tata Consumer Products, TCS and Wipro slipped below the key moving average yesterday.

Broadly speaking, with 3 out of 3 Nifty