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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
