Negative Breakout: These 10 large-cap stocks cross below their 200 DMAs
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Downside Ahead
In the NSE large-cap pack, 11 stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on March 23, 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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Hindustan Zinc
200 DMA: Rs 512.69| LTP: Rs 487.65
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Muthoot Finance
200 DMA: Rs 3215.15| LTP: Rs 3115.6
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Samvardhana Motherson International
200 DMA: Rs 109.53| LTP: Rs 106.59
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Bajaj Auto
200 DMA: Rs 8968.69| LTP: Rs 8776
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Bank Of Baroda
200 DMA: Rs 269.74| LTP: Rs 265.9
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JSW Steel
200 DMA: Rs 1124.66| LTP: Rs 1109.6
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Canara Bank
200 DMA: Rs 131.01| LTP: Rs 129.56
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Bharat Electronics
200 DMA: Rs 409.98| LTP: Rs 405.5
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Dr. Reddy's Laboratories
200 DMA: Rs 1264.76| LTP: Rs 1253.3
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Eicher Motors
200 DMA: Rs 6690.19| LTP: Rs 6681.5
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Tata Power Company
200 DMA: Rs 387.09| LTP: Rs 386.95