Street signs: Nifty's 20-DEMA, capital goods stocks gain, and more

Nifty’s 20-DEMA: A Sisyphean challenge

The benchmark Nifty50 managed to squeeze out gains last week to close at 17,957. The index struggled to cross its 20-day exponential moving average (DEMA) for more than a month. Currently, the Nifty’s 20-DEMA is around 18,080. If the index manages to surpass this key hurdle, it may see further upward movement, observe analysts. “The immediate support is placed in the range of 17,750-17,800 – a make-or-break level. On the flip side, the 20-DEMA resistance is seen at around 18,080. Anything above it will lead to a trending move towards 18,200/18,325/18,450 in the short