RIL, Dr Reddy's Labs: 5 Nifty500 stocks cross 200-DMA, defying weak trend

Following a strong close over the 200-DMA set at Rs 2,559, the chart structure of Reliance Industries reveals a "Double Bottom" breakout

Illustration: Binay Sinha
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200-DMA is a vital indicator while considering any investment in the stock marker

Avdhut Bagkar Mumbai
Market participants consider stocks, which revive back above 200-day moving average (DMA), as the most risk-averse picks from a short-to-medium term perspective. Recently, the benchmark indices witnessed rout wherein it saw three-day losing streak in the last week, implying a shift in sentiment.

Out of the five sessions in the last week, the BSE Sensex and Nifty closed lower for three sessions consecutively. This affected the reversal sentiment gradually occurred in its previous week.

Nevertheless, Monday's session managed to soften the developing negative aggression, with few Nifty 500 stocks exhibiting rebound back over their key moving averages.

First Published: Jan 10 2023 | 11:38 AM IST

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