Negative Breakout: These 11 stocks cross below their 200 DMAs
1/12
Downside Ahead
In the Nifty500 pack, 11 stocks' closing prices crossed below their 200 DMA (Daily Moving Averages) on August 31, 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. Traders use the 200 DMA as a key indicator to determine a stock's overall trend. Take a look:
2/12
Kaynes Technology India
200 DMA: Rs 3876.01| LTP: Rs 3685
3/12
Sonata Software
200 DMA: Rs 299.18| LTP: Rs 292.05
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4/12
3M India
200 DMA: Rs 34067.62| LTP: Rs 33320
5/12
The Great Eastern Shipping Company
200 DMA: Rs 1327.01| LTP: Rs 1301.8
6/12
Fortis Healthcare
200 DMA: Rs 914.01| LTP: Rs 906.9
7/12
Punjab National Bank
200 DMA: Rs 115.09| LTP: Rs 114.23
8/12
Balkrishna Industries
200 DMA: Rs 2294.54| LTP: Rs 2279.2
9/12
Cochin Shipyard (10)
200 DMA: Rs 1519.71| LTP: Rs 1510
10/12
Adani Ports and Special Economic Zone
200 DMA: Rs 1599.9| LTP: Rs 1593.1
11/12
Supreme Industries (3)
200 DMA: Rs 3573.04| LTP: Rs 3559
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Garden Reach Shipbuilders & Engineers
200 DMA: Rs 2574.16| LTP: Rs 2565.5