Chart Reading: 75% of BSE500 stocks trading below 200-DMA
Few stocks are yet to catch up 200-DMA, however, they are showing positive momentum on technical charts.
 "Chart Reading: 75% of BSE500 stocks trading below 200-DMA")
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The frontline index Nifty reversed from 10,000 level recently and conquered 200-day moving average (DMA). Nifty Bank has rebounded from 24,240 and is currently trading above 50 DMA and 200 DMA. An indication of positive trend has emerged in the moving average theory which says index and stocks crossing 200-DMA will see optimistic sentiment. Few stocks are yet to catch up 200-DMA, however, they are showing positive momentum on technical charts.
| STOCKS | CMP | 50-DMA | 100-DMA | 200-DMA | TECHNICAL SCENARIO |
| KSCL | 515 | 512 | 559 | 536 | Inverse Head & Shoulder |
| MGL | 863.3 | 830.7 | 852 | 878 | Consolidation Breakout |
| BANDHAN BANK | 471.3 | 456.9 | 556 | - | Rising Channel Pattern |
| L&TFH | 138 | 131.3 | 150 | 157.2 | Volume breakout |
Kaveri Seed Co: The stock managed to close above 200 DMA a couple of sessions ago and has seen profit booking rather than follow up buying. Currently, 50-DMA is acting as support level on the closing basis. Consolidation is seen in the range of Rs 490 – Rs 530.
Mahangar Gas: It is trading above 50 DMA and 100 DMA and is hovering around 200-DMA located at Rs 878 – Rs 880 with consolidation breakout on chart.
Bandhan Bank witnessed a formation of "Rising Channel pattern" trending above 50-DMA. The volumes have remained inactive in volatile sessions.
L&T Finance Holdings: It has seen volumes breakout with price moving higher. The range of Rs 140 – Rs 138 was crossed heading towards 100-DMA, currently seen retesting support levels.
| Stocks | Dec 7, 2018 | 50-DMA | 100-DMA | 200-DMA |
| MRF Ltd | 65475.0 | 64664.6 | 69526.4 | 71997.1 |
| Eicher Motors Ltd | 22400.0 | 23070.5 | 25615.4 | 27416.0 |
| Page Industries Ltd | 24077.1 | 28649.9 | 30040.9 | 26968.8 |
| Lakshmi Machine Works Ltd | 5700.0 | 5934.9 | 6672.5 | 7125.5 |
| Maruti Suzuki India Ltd | 7281.0 | 7212.8 | 8172.3 | 8519.6 |
| Shankara Building Products Ltd | 543.0 | 986.4 | 1249.7 | 1500.4 |
| Sundaram-Clayton Ltd | 3402.0 | 3653.7 | 3829.9 | 4272.5 |
| Force Motors Ltd | 1635.1 | 1769.9 | 2109.4 | 2460.1 |
| WABCO India Ltd | 6394.0 | 6602.6 | 6744.8 | 7148.0 |
| ISGEC Heavy Engineering Ltd | 5237.2 | 5387.0 | 5645.5 | 5971.4 |
| Venky's India Ltd | 2299.2 | 2367.7 | 2481.4 | 2941.4 |
| TVS Srichakra Ltd | 2412.0 | 2502.2 | 2701.3 | 3019.1 |
| Cera Sanitaryware Ltd | 2345.0 | 2426.7 | 2582.1 | 2831.1 |
| Piramal Enterprises Ltd | 2064.1 | 2198.8 | 2504.1 | 2501.2 |
| Indiabulls Housing Finance Ltd | 717.9 | 819.8 | 1031.6 | 1132.3 |
| Blue Dart Express Ltd | 3083.4 | 2921.1 | 3214.4 | 3496.5 |
| Shriram City Union Finance Ltd | 1561.8 | 1605.8 | 1777.2 | 1972.8 |
| APL Apollo Tubes Ltd | 1319.3 | 1279.1 | 1461.4 | 1711.7 |
| Johnson Controls-Hitachi Air C | 1793.0 | 1717.0 | 1869.0 | 2179.2 |
| Symphony Ltd | 990.1 | 973.5 | 1057.0 | 1357.0 |
| Dilip Buildcon Ltd | 446.0 | 492.2 | 640.4 | 812.8 |
| Quess Corp Ltd | 623.1 | 764.5 | 890.1 | 989.2 |
| Shree Cement Ltd | 16122.9 | 15546.8 | 16496.2 | 16480.9 |
| Forbes & Co Ltd | 2450.0 | 2142.6 | 2339.9 | 2807.6 |
| BASF India Ltd | 1535.0 | 1641.9 | 1773.8 | 1889.7 |
| Oracle Financial Services Soft | 3578.0 | 3685.4 | 3850.2 | 3916.7 |
| Bosch Ltd | 18513.9 | 19020.5 | 19161.2 | 18848.9 |
| LUX Industries Ltd | 1440.0 | 1536.5 | 1682.9 | 1760.0 |
| IFB Industries Ltd | 830.1 | 926.7 | 1030.0 | 1147.3 |
| Hero MotoCorp Ltd | 3037.3 | 2901.0 | 3086.7 | 3348.0 |
| Dewan Housing Finance Corp Ltd | 203.0 | 241.2 | 432.5 | 507.5 |
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