Negative Breakout: These 8 stocks cross below their 200 DMAs
By Ritesh Presswala, ETMarkets.com |
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Downside Ahead
In the Nifty200 pack, eight stocks' closing prices crossed below their 200-day moving averages (DMA) on October 21, according to technical scan data from StockEdge. Trading below the 200 DMA is generally considered a negative signal, as it suggests that a stock’s price is below its long-term trend. The 200 DMA is a widely used technical indicator that helps traders assess a stock's overall trend.
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Dixon Technologies (India)
200 DMA: Rs 12091.19| LTP: Rs 11689
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Siemens
200 DMA: Rs 3536.73| LTP: Rs 3420.6
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Bajaj Auto
200 DMA: Rs 10264.39| LTP: Rs 10072
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Adani Power
200 DMA: Rs 190.14| LTP: Rs 187.09
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ABB India
200 DMA: Rs 6652.72| LTP: Rs 6559.5
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Supreme Industries
200 DMA: Rs 3583.24| LTP: Rs 3554.2
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Lodha Developers
200 DMA: Rs 1021.88| LTP: Rs 1015