Negative Breakout: These 11 stocks dropped below their 200 DMAs
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Flashing Red
In the Nifty500 pack, the closing prices of 18 stocks fell below their 200-day moving averages on June 8, according to StockEdge.com's technical scan data. Of these, we have highlighted 11 stocks that slipped more than 2%. 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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Tega Industries
200 DMA: Rs 1824.08| LTP: Rs 1772.2
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Anant Raj
200 DMA: Rs 552.23| LTP: Rs 537.3
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4/12
Travel Food Services
200 DMA: Rs 1236.28| LTP: Rs 1206.3
5/12
IIFL Finance
200 DMA: Rs 503.89| LTP: Rs 491.85
6/12
Olectra Greentech
200 DMA: Rs 1267.34| LTP: Rs 1240
7/12
Ramkrishna Forgings
200 DMA: Rs 545.41| LTP: Rs 534.6
8/12
Sumitomo Chemical India
200 DMA: Rs 469.08| LTP: Rs 460.15
9/12
Oberoi Realty
200 DMA: Rs 1622| LTP: Rs 1600.4
10/12
Indegene
200 DMA: Rs 516.13| LTP: Rs 512.15
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Computer Age Management Services
200 DMA: Rs 744.79| LTP: Rs 740.15
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Gallantt Ispat
200 DMA: Rs 624.02| LTP: Rs 621.05