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 July 16, 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 the overall trend in a particular stock. Take a look:
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ITC Hotels
200 DMA: Rs 182.68| LTP: Rs 174.12
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HDFC Asset Management Company
200 DMA: Rs 2654.45| LTP: Rs 2602.2
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Asahi India Glass
200 DMA: Rs 913.91| LTP: Rs 897.9
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Gujarat Mineral Development Corporation
200 DMA: Rs 592.39| LTP: Rs 586.65
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Bharti Hexacom
200 DMA: Rs 1636.69| LTP: Rs 1627.8
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TVS Motor Company
200 DMA: Rs 3582.16| LTP: Rs 3563.5
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Power Finance Corporation
200 DMA: Rs 403.23| LTP: Rs 401.35
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DLF
200 DMA: Rs 649.77| LTP: Rs 648.1