Indian Stocks Near Death Cross Sell Signal on Cash Ban: Chart

(Bloomberg) -- Six days of losses in an index of India’s 30 biggest companies has sent its 50-day average nearly below its 100-day moving mean. That’s a so-called death cross, which some technical analysts consider a bearish signal. The gauge has fallen to a six-month low after the government’s decision to scrap high-value currency bills led to a cash crunch that curbed consumer spending.

To contact the reporter on this story: Ravil Shirodkar in Mumbai at rshirodkar@bloomberg.net. To contact the editors responsible for this story: Jeff Sutherland at jsutherlan13@bloomberg.net, Ravil Shirodkar, Jake Ulick