Today Nifty 50 Is Dropping While Staying Above 50-Day EMA
Today Nifty 50 is in the ‘red’ but there is still some positive side to its performance at least for now. This is due to the fact that the Nifty 50 Index is still trading above its 50-day Exponential Moving Average (EMA). Therefore, we can rightly say that although the performance of the Nifty 50 index is bearish, the trend is upward as the metric recorded today is still above the 50-day EMA.
Nifty 50 today was down by 0.12% and traded at 17,492.10 (losing 20.15 points) at the time of writing on Thursday, October 20, 2022. It was seen that 27 out of 50 stocks were advancing, which means that more than 50% of stocks were in the ‘green’ and that the index might change its course during the day. On the other hand, BSE Sensex India was also down by 0.18% as it traded at 59,001.67 (declining by 105.54 points) at press time. So, Sensex India also could not recover from the red.
Today Nifty 50 Gainers
Let’s have a look at the top Indian stock market trading options that were gaining while the market was bearish and volatile to an extent.
1. UPL Limited
UPL Limited (NSE: UPL) saw its stock go up by 2.61% and trade at ₹694.45 (up by 17.65 points) at the time of writing in the trading session today. The total trade volume was 17,33,991, which was worth ₹11,940.78 lakhs.
2. HCL Technologies Limited
HCL Technologies Limited (NSE: HCLTECH) saw its stock increase by 1.48% and trade at ₹1,010.35 (up by 14.70 points) at the time of reporting during the trading session today. The total trade volume was 15,12,653, which was worth ₹15,184.16 lakhs.
3. Nestle India Limited
Nestle India Limited (NSE: NESTLEIND) saw its share prices gain by 1.29% and trade at ₹19,994.10 (up by 255.00 points) at press time in the trading session today. The total trade volume was 65,039, which was worth ₹13,006.61 lakhs.
4. Cipla Limited
Cipla Limited (NSE: CIPLA) saw its stock gain by 0.78% and trade at ₹1,130.80 (up by 8.80 points) at the time of writing in the trading session today. The total trade volume was 7,39,153, which was worth ₹8,366.25 lakhs.
5. HDFC Life Insurance Company Limited
HDFC Life Insurance Company Limited (NSE: HDFCLIFE) saw its stock rise by 0.77% and trade at ₹535.65 (up by 4.10 points) at the time of drafting this article in the trading session today. The total trade volume was 10,41,238, which was worth ₹5,565.31 lakhs.
Today Nifty 50 is volatile, therefore, it is recommended no risky trading activities should be undertaken without proper knowledge of the Indian stock market and analysis of the current trends.