The market recently broke below the crucial support of the ascending trend line, and the significant gap down on August 5th remains unfilled, indicating a negative outlook. A decisive drop below 23,900 could lead to a short-term downward correction. The immediate resistance is at 24,250-24,300 levels, according to Nagaraj Shetti of HDFC Securities.
Positive Breakout: These 5 stocks cross above their 200 DMAs
In the Nifty200 pack, five stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on May 15, according to stockedge.com’s technical scan data.
May 16, 2025