Negative Breakout on April 15: These 3 stocks dropped below their 200 DMAs
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Flashing Red
In the NSE list of stocks with a market cap over Rs 1000 crore, three stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on April 15, 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. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
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Dodla Dairy
200 DMA: Rs 1169.33| LTP: Rs 1159.1
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Akzo Nobel India
200 DMA: Rs 3504.99| LTP: Rs 3482.2
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Jupiter Life Line Hospitals
200 DMA: Rs 1445.05| LTP: Rs 1444.6