Negative Breakout: These 8 stocks cross below their 200 DMAs
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Downside Ahead
In the Nifty500 pack, eight stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on April 30, 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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Blue Star
200 DMA: Rs 1833.52| LTP: Rs 1781
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United Spirits
200 DMA: Rs 1357.38| LTP: Rs 1325.6
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Mahindra & Mahindra Financial Services
200 DMA: Rs 316.9| LTP: Rs 310.7
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Computer Age Management Services
200 DMA: Rs 747.33| LTP: Rs 738.6
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The India Cements
200 DMA: Rs 400.27| LTP: Rs 395.9
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ITI
200 DMA: Rs 300.02| LTP: Rs 298.88
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Waaree Energies
200 DMA: Rs 3126.44| LTP: Rs 3118.8
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Allied Blenders And Distillers
200 DMA: Rs 531.88| LTP: Rs 531.80