Nifty scales back to near 200-day moving average amid COVID-19 pandemic
0Global equity markets have rebounded substantially from their March low as the Dow Jones & Nifty have gained over 40 per cent each since then. At a time when the world is assessing the potential impact of the Covid-19 pandemic on global economies, who would have thought the Nifty would be knocking on the 200-day moving average door? That’s exactly what has happened with the Nifty scaling back to almost its 200-day moving average. However, the conundrum is that less than 40 per cent of Nifty stocks are above their respective 200-day moving average which means more stocks would need to contribute for the market to sustain at elevated levels. Watch!
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