Negative Breakout: These 11 stocks cross below their 200 DMAs
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Downside Ahead
In the Nifty500 pack, 11 stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on May 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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Endurance Technologies
200 DMA: Rs 2616.68| LTP: Rs 2548.5
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Cochin Shipyard
200 DMA: Rs 1631.35| LTP: Rs 1594.5
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Elecon Engineering Company
200 DMA: Rs 495.87| LTP: Rs 484.85
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Housing & Urban Development Corporation
200 DMA: Rs 211.09| LTP: Rs 206.53
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Muthoot Finance
200 DMA: Rs 3357.43| LTP: Rs 3311.4
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State Bank Of India
200 DMA: Rs 974.93| LTP: Rs 963.2
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Hindustan Aeronautics
200 DMA: Rs 4419.17| LTP: Rs 4386.2
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MMTC
200 DMA: Rs 63.46| LTP: Rs 62.99
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Oberoi Realty
200 DMA: Rs 1621.04| LTP: Rs 1617.2
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LIC Housing Finance
200 DMA: Rs 547.67| LTP: Rs 547.05
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Alkem Laboratories
200 DMA: Rs 5490.49| LTP: Rs 5486