Nifty Nears 200-WMA After Six Years

Business Standard · stocks

The NSE Nifty 50 index is approaching its 200-week moving average (200-WMA) for the first time in over six years, having fallen 1.44% on Monday. The index hit an intra-day low of 22,807.55, with the 200-WMA at 22,607. Historically, the 200-WMA is a key indicator of the market's long-term trend and a strong support zone. A sustained breach below this level could signal a significant deterioration in market sentiment and a potential trend reversal.