Stock Market News 21.09.2018

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While Nifty lost over 500 points in 15 sessions, over 60 Nifty500 stocks slipped 10–30% 

As many as 67 stocks in the Nifty500 index saw a double-digit cut since August 28 as breaks below 11,250. Stocks like Bharat Electronics, Unitech, Bank of Baroda, 8K Miles, Kwality, Quess Corp, and Ashok Buildcon fell 15–30 percent in just 15 sessions.



Indian market, which was hitting record highs almost on a daily basis last month, seems to be losing momentum now. The Nifty50 index has slipped over 500 points while the S&P BSE Sensex has lost nearly 2,000 points from their respective record-high level.

The Nifty50 hit a record high of 11,760 on August 28 and since then it has steadily fallen towards its crucial support and a swing low placed at 11,250.

Technically speaking, the index has broken below its crucial short-term supports placed at 5-days exponential moving average, 13-EMA, 20-EMA, and 50-EMA.
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