Negative Breakout: These 8 stocks cross below their 200 DMAs
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Downside Ahead
In the Nifty500 pack, eight stocks' closing prices crossed below their 200 DMAs (Daily Moving Averages) on August 4, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. Traders use the 200 DMA as a key indicator to determine the overall trend in a particular stock. Take a look:
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Life Insurance Corporation of India
200 DMA: Rs 421.45| LTP: Rs 391.3
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Aavas Financiers
200 DMA: Rs 1419.35| LTP: Rs 1392.6
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Garden Reach Shipbuilders & Engineers
200 DMA: Rs 2573.18| LTP: Rs 2546.9
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Power Grid Corporation Of India
200 DMA: Rs 286.08| LTP: Rs 283.4
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Bharti Hexacom
200 DMA: Rs 1631.97| LTP: Rs 1616.8
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Sundaram Finance
200 DMA: Rs 4800.53| LTP: Rs 4779.3
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DLF
200 DMA: Rs 645.15| LTP: Rs 643.4
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Gravita India
200 DMA: Rs 1662.28| LTP: Rs 1658.6