Negative Breakout: These 9 stocks cross below their 200 DMAs
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Downside Ahead
In the Nifty200 pack, nine stocks' closing prices crossed below their 200 DMA (Daily Moving Averages) on June 1, 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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Indian Bank
200 DMA: Rs 825.81| LTP: Rs 809.75
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Page Industries
200 DMA: Rs 37858.75| LTP: Rs 37225
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4/10
PB Fintech
200 DMA: Rs 1697.81| LTP: Rs 1671.4
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360 One Wam
200 DMA: Rs 1094.23| LTP: Rs 1078.8
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Max Financial Services
200 DMA: Rs 1644.74| LTP: Rs 1624.4
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L&T Finance
200 DMA: Rs 273.74| LTP: Rs 271.25
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Waaree Energies
200 DMA: Rs 3121.84| LTP: Rs 3096.1
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Motilal Oswal Financial Services
200 DMA: Rs 856.66| LTP: Rs 851.7
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Pidilite Industries
200 DMA: Rs 1463.1| LTP: Rs 1457.2