On a long-term basis, the Nifty 50 index has an upside target of 37,000–42,000. There will be periods when China rallies strongly, leading to some outperformance from that market. However, the long-term target for the index remains 37,000–42,000, said CLSA global chartist Laurene Balanco. Balanco believes that India will continue to be a key driver […]
Two-thirds of Nifty200 companies slip below their 100-Day moving averages – CNBC TV18
From Maruti Suzuki to Avenue Supermarts, about two-thirds of Nifty200 constituents are trading below their 100-day moving averages (DMA). Further, 82 of them have broken their 200-day levels as well. The rout in Indian equities, which began after China’s stimulus package, has seen Nifty50 coming off 7% from its peak. The fall in the benchmark […]