Chart Reading: 75% of BSE500 stocks trading below 200-DMA

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