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.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in