Positive Breakout: These 3 stocks close cross above their 200 DMAs
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Upside Ahead?
In the Nifty500 pack, three stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on October 1, according tostockedge.com's technical scan data.
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What is a 200-day DMA?
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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Olectra Greentech
200 DMA: Rs 1711.15| LTP: Rs 1749.65
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Gujarat Narmada Valley Fertilizers & Chemicals
200 DMA: Rs 684.64| LTP: Rs 699.45
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Shree Cement
200 DMA: Rs 26364.52| LTP: Rs 26523.25