Nifty breaks below long-term average! 23 out of 50 stocks trade under 200-DMA

October 3, 2022

“On the daily chart, the benchmark Nifty has formed a dark cloud cover formation, suggesting a bearish reversal. Besides, the index has fallen below the 200-DMA, which is again a bearish setup,” Rupak De, Senior Technical Analyst at LKP Securities, said.

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Tech View: Nifty eyes 24,050 as next target; support at 23,550 from put writing. How to trade on Thursday

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