Negative Breakout on June 12: 4 stocks cross below their 200 DMAs
1/5
Bearish Signal
In the Nifty50 pack, four stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on June 12, 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:
2/5
Adani Enterprises
200 DMA: Rs 2564.01| LTP: Rs 2543.7
3/5
Cipla
200 DMA: Rs 1512.49| LTP: Rs 1502.8
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4/5
Hindalco Industries
200 DMA: Rs 653.12| LTP: Rs 651.05
5/5
Ultratech Cement
200 DMA: Rs 11344.29| LTP: Rs 11323