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Street Signs: 200-day SMA for Nifty Bank, portfolio turnover, and more

The gauge for the performance of banking stocks - which also happens to have the highest weighting in the benchmark Nifty50 Index - last closed at 39,395

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Samie Modak

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200-day SMA for Nifty Bank: Line of least resistance?

Amid a global banking maelstrom, the National Stock Exchange Nifty Bank Index has decisively broken the 40,000 mark. The gauge for the performance of banking stocks — which also happens to have the highest weighting in the benchmark Nifty50 Index — last closed at 39,395. Technical analysts say the 200-day simple moving average (SMA) for the index holds the key. “For the Nifty Bank, 39,750, or the 200-day SMA, would act as a trend decider benchmark, below which the index could slip till 39,000-38,700. On the flip side, above the 200-day

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First Published: Mar 27 2023 | 6:04 AM IST

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