Indian Stocks Near Death Cross Sell Signal on Cash Ban: Chart

Six days of losses in an index of India’s 30 biggest companies has sent its 50-day average nearly below its 100-day moving mean. That’s a so-called death cross, which some technical analysts consider a bearish signal. The gauge has fallen to a six-month low after the government’s decision to scrap high-value currency bills led to a cash crunch that curbed consumer spending.

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