Death Crossovers: These 5 stocks signal further bearishness
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Bearish signals
In the NSE list of stocks, five stocks with a market cap of over Rs 1,000 crore are witnessing Death Crossovers, according to stockedge.com's technical scan data. The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside. These stocks' 50-day simple moving averages (SMA) crossed below their 200-day SMAs on November 28. Take a look:
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Genesys International Corporation
CMP: Rs 470.4
50-day SMA: Rs 534.75
200-day SMA: Rs 537.23
50-day SMA: Rs 534.75
200-day SMA: Rs 537.23
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Adani Green Energy
CMP: Rs 1990.7
50-day SMA: Rs 2148.68
200-day SMA: Rs 2153.19
50-day SMA: Rs 2148.68
200-day SMA: Rs 2153.19
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Wheels India
CMP: Rs 606.8
50-day SMA: Rs 624.96
200-day SMA: Rs 625.98
50-day SMA: Rs 624.96
200-day SMA: Rs 625.98
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Nilkamal
CMP: Rs 1920.05
50-day SMA: Rs 2042.35
200-day SMA: Rs 2044.46
50-day SMA: Rs 2042.35
200-day SMA: Rs 2044.46
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Balaji Amines
CMP: Rs 2928.55
50-day SMA: Rs 3136.48
200-day SMA: Rs 3139.08
50-day SMA: Rs 3136.48
200-day SMA: Rs 3139.08