Nifty Is Having A Déjà Vu Moment
In the tug-of-war between the bears and the bulls, the former is gaining the upper paw. At least by one technical indicator.
Half of the Nifty 50 stocks are now trading below their 50-day moving average. Last time this happened was in February of this year after which the index corrected over 7 percent. While the 50-member stock index is up little over 1 percent so far this year, it has fallen around 4.3 percent from its January all-time high levels.