Categorie: Emerging Markets
Submitted 3 months ago by
Rajiv
, An Investor...
at Bank Of Baroda....migrating to USA
Friends,I am pasting here exactly what I read in ET today.....Nifty stages a comeback, scales ‘500DMA’ resistanceShakti Shankar Patra ET INTELLIGENCE GROUPMUCH maligned in the recent past for gross underperformance compared to most of its global peers, the benchmark 50-share Nifty has made a dramatic comeback in the last few trading sessions. And in the process, has achieved something that none of the others have — re-conquered its 500 daily moving average (DMA) while most global indices continue to languish well below it. Though not as frequently talked about as some of its popular brethren, the 500 DMA is a very important long-term technical trend indicator — with life above it considered bullish and below it bearish. Its importance can be gauged from the fact that since conquering this key indicator in June 2003, the beginning of the last bull run, the Nifty never fell below it for the next five years. On rare occasions, the 500 DMA acted as a strong support and the Nifty invariably managed to bounce back strongly. However, this changed in June as the Nifty plunged below its 500 DMA for the first time in five years. Interestingly, this was the time when even the staunchest of the bulls threw in the towel and the bear market was, for all measures, co...
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Submitted 3 months ago by
Rajiv
, An Investor...
at Bank Of Baroda....migrating to USA
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