9 Quality Stocks Trading Below 200-Day Moving Averages

The Sensex and the Nifty continue to trade at peak levels, with the Sensex now well above that 65,000 points mark. However, there are some stocks that are laggards. Here are a few that are now trading below their 200-day moving averages.

Each of these stocks may have some structural reasons for a fall. For example, Infosys has fallen lately on account of fears of recession in the US and slowing order book position.

Indian markets may see some selling pressure

The Sensex and the Nifty have been seein solid gains over the last 2-weeks. In fact, the Nifty crossed the 19,000 points mark and the Sensex crossed the 65,000 points mark. The markets after a big leap in the last few weeks has turned a bit weary of the heights and moved lower by end of the week.

"The data points emerging from the US giving stronger indications of a likely rate action from the Fed in its next meeting led to a slump in the overseas markets yesterday. There is a narrative that is emerging that inflation might be more persistent than it is thought to be at this juncture, going by the conditions that prevail in the US as also Europe, and the consequent rate action will be north-bound. This will have its impact causing some turbulence in the immediate term," says Dr. Joseph Thomas, Head of Research, Emkay Wealth Management on the markets.

Disclaimer

The above article is for information only. Please note, we have highlighted the stocks that are near to their 200 day moving averages. This article is not a buy, hold or sell based article on any of the stocks highlighted. This is not a recommendation of either Greynium Information nor the author. Neither Greynium Information Technologies, nor the author should be held responsible for losses caused based on a decision from the article.