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Nifty breaks 50-DMA, seems oversold

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Reuters

Reuters Market Eye - The Nifty <.NSEI> trades below 50-DMA for the first time since Oct. 21

Levels around 50-DMA acted as key support for the index on multiple occasions since February.

Its 14-day RSI is near 36.9.

Index trades below lower Bollinger band

The 50-shares index is down 4.1 pct in previous six session until Friday vs 3 pct fall in MSCI-Asia Pacific index <.MIAPJ0000PUS>, excluding Japan

($1 = 62.2000 rupees)

(Reporting by Abhishek Vishnoi)

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First Published: Dec 15 2014 | 10:53 AM IST

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