Nifty struggles to hold 200 DMA; Can Consumer Durables & Metal lead recovery?
- Posted on October 7, 2024
- By Financial Express
- 1 Views
Nifty struggles to hold 200 DMA; Can Consumer Durables & Metal lead recovery?
Over 75% of stocks in major indices, including Nifty 500, Nifty 50, and Nifty Bank, are trading below their 10-day SMAs. While FMCG, consumer durables, and metal stocks show resilience, financials have weakened. Despite Nifty 50 nearing its 200-day SMA, broader market indicators suggest the downtrend could persist.
