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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.

Avdhut Bagkar  |  Mumbai 

Markets, Stocks, BSE, NSE, SENSEX
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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

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

First Published: Fri, December 07 2018. 15:59 IST
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