The week before the previous week had seen Nifty bouncing off from the 20-week MA which stands at 16,854. It had halted its move near the 50-week MA. This week, it moved above that level as well. The 50-week MA positions itself at 17,084.
In the Nifty500 pack, seven stocks’ close prices crossed below their 200 DMA (Daily Moving Averages) on April 22, according to stockedge.com’s technical scan data.
Oil prices are rising again. Peace talks between Iran and the United States are stalled. Trade through the Strait of Hormuz remains restricted. Iran seized
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