Adani Ports, Mishra Dhatu: 27 stocks set to gain after conquering 200-DMA

Nearly 310 stocks in the Nifty 500 index are indicating a bullish trend as they trade comfortably above the 200-day moving average (DMA). The 200-DMA is derived from the average values of 200 sessions of stocks / securities which helps in identifying whether the price trades above or below the mean. If the stock price trades above the 200-DMA, it exhibits a buying momentum, and if trades below the level, it is said to be in the negative zone.

The benchmark indices, Nifty 50 and S&P BSE Sensex, have also rebounded from their respective 200-DMA lows. This shows support and strength of the indices. Going forward, until this support is held, once can expect a strong recovery in various stocks in the indices.

Of 310 stocks, as many as 27 stocks regained their position above the 200-DMA on Monday, with strong volumes and prices supporting the upside. If this gets further strengthened, which seems likely, the prices can move nearly 15 to 20 per cent in the coming sessions.

The list of stocks that conquered 200-DMA in Monday's session includes names such as Adani Ports and Special Economic Zone Limited (APSEZ), ICICI Lombard General Insurance Company Limited, Exide Industries Limited, Godrej Properties Limited, Pidilite Industries Limited, Himadri Speciality Chemical Limited, Mahindra Logistics Limited, Varun Beverages Limited and Zee Entertainment Enterprises Limited.