GMM Pfaudler, IndiaMART: 70% of Nifty500 stocks trade above their 200-DMA
The stocks trading above the 200-DMA are usually in a bullish phase. Here is the complete list
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Stocks above 200-DMA
The 200-day moving average (DMA) is widely acknowledged as an indicator to determine the overall trend by market participants. Simply put, this average assists in identifying a bullish and bearish sentiment for an index or a stock. One can even consider taking a medium-to-long term position in an index or a stock with the help of 200-DMA.
If price of the stock or an index consistently trades above the 200-DMA, it can be viewed as an trending upward. Markets or stocks that consistently trade below their 200-DMA are seen to be in a downtrend.
At present, nearly 70 per cent, or 344 stocks, that comprise the Nifty 500 index are trading above their respective 200-DMA. This reflects an overall positive sentiment with prices expected to rise even further. Stocks like Jyothy Labs, Kajaria Ceramics Limited, Laurus Labs Limited, Linde India Limited and Phillips Carbon Black Limited are indicating strength even in their overbought conditions.
On the other hand, stocks like Aarti Industries Limited, Alkyl Amines Chemicals Limited, Birlasoft Limited, GMM Pfaudler Limited, Granules India Limited, and JK Cement Limited have seen added interest by market participants given the news flow.
If price of the stock or an index consistently trades above the 200-DMA, it can be viewed as an trending upward. Markets or stocks that consistently trade below their 200-DMA are seen to be in a downtrend.
At present, nearly 70 per cent, or 344 stocks, that comprise the Nifty 500 index are trading above their respective 200-DMA. This reflects an overall positive sentiment with prices expected to rise even further. Stocks like Jyothy Labs, Kajaria Ceramics Limited, Laurus Labs Limited, Linde India Limited and Phillips Carbon Black Limited are indicating strength even in their overbought conditions.
On the other hand, stocks like Aarti Industries Limited, Alkyl Amines Chemicals Limited, Birlasoft Limited, GMM Pfaudler Limited, Granules India Limited, and JK Cement Limited have seen added interest by market participants given the news flow.
GMM Pfaudler, for instance, rose as much as 8.18 per cent to Rs 6,360 on the BSE on Friday after the process equipment manufacturer acquired a 54 per cent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. READ ABOUT IT HERE