HDFC Bank, ACC, Tata Steel: Over half of NSE 500 stocks slip below 200-DMA

To better understand the market direction in the days ahead, traders and investors consider the 200-DMA as a more reliable average than its peers 50-DMA and 100-DMA.

The sharp fall in Indian equity markets over the past few weeks has seen 281 stocks, or 56 per cent of the stock that comprise the NSE 500 index, slip below their 200-day moving average (DMA). If the weak sentiment persists, they can slip further, which should be a cause for concern, analysts said.
 
Technically, traders and investors view the 200-day moving average (DMA) as an indicator to decide on their investment strategy. Although this indicator is a simple mean of 200-sessions, the existence of any stock above and below it exhibits the underneath strength and momentum. Any stock