Nifty50 has found support at its 100-day moving average twice

The benchmark Nifty50 index has managed to find support around its 100-day moving average (DMA). Last month, the index slipped below that key technical indicator on April 12 and April 20 but managed to rebound. A fall below the 100-DMA is considered to be a bearish signal.
 
On Friday, the index closed at 14,631, after dropping 264 points, or 1.8 per cent. Despite the sharp fall, the 50-share index currently trades above its 100-DMA of 14,459.
 
Analysts say as long as the index holds on this key support level, the market can remain ‘upward trending.’ “The Nifty has