The “200-day moving average” (200 DMA) is a widely used technical indicator in financial markets. It is calculated by taking the average closing prices of a security over the past 200 days, which helps smooth out daily price fluctuations and provides a clearer picture of the overall trend.
One of the primary reasons the 200-day moving average is popular is its ability to act as a support or resistance level. When a stock’s price is above the 200 DMA, it is often considered to be in a bullish phase, as the long-term trend is upward.
The stocks to watch out for are listed below
Coforge Ltd
Coforge Ltd is a global digital services and IT solutions provider, formerly known as NIIT Technologies. Headquartered in India, the company specializes in digital transformation services for sectors like BFSI (Banking, Financial Services, and Insurance), travel, transportation, and healthcare.
With a market capitalization of Rs. 56,734.06 crores on Tuesday, the stock closed at Rs. 1695.90 a piece, which is currently taking support at the 200-day moving average of Rs. 1,643.47 in a day’s Time Frame and currently trading at a discount price of 15 percent from the all-time high.
GMR Airports Ltd
GMR Airports Ltd, part of the GMR Group, is a leading developer and operator of airports in India and internationally. It manages major airports such as Indira Gandhi International Airport in Delhi and Rajiv Gandhi International Airport in Hyderabad. The company is known for its public-private partnership (PPP) model.
With a market capitalization of Rs. 91,694.15 crores on Tuesday, the stock closed at Rs. 86.84 a piece, which is currently taking support at the 200-day moving average of Rs. 84.93 in a day’s Time Frame and currently trading at a discount price of 17 percent from the all-time high.
NRB Bearings Ltd
NRB Bearings Ltd is a pioneer in the bearing manufacturing sector in India and is one of the largest needle and cylindrical roller bearing producers in Asia. The company supplies to key industries such as automotive, aerospace, railways, and industrial machinery. NRB focuses on high-precision engineering and exports to numerous countries.
With a market capitalization of Rs. 2,754.06 crores on Tuesday, the stock closed at Rs. 284.15 a piece, which is currently taking support at the 200-day moving average of Rs. 272.12 in a day’s Time Frame and currently trading at a discount price of 29 percent from the all-time high.
Lloyds Metals & Energy Ltd
Lloyds Metals & Energy Ltd is an Indian company engaged in the production of sponge iron, steel, and power. It operates in the mining and metal sector, with its primary operations based in Maharashtra. The company owns iron ore mines and is involved in integrated steel manufacturing.
With a market capitalization of Rs. 68,820.29 crores on Tuesday, the stock closed at Rs. 1315.00 a piece, which is currently taking support at the 200-day moving average of Rs. 1,277.42 in a day’s Time Frame and currently trading at a discount price of 18.5 percent from the all-time high.
Som Distilleries & Breweries Ltd
Som Distilleries & Breweries Ltd is a prominent player in the Indian alcoholic beverages industry. The company manufactures beer, rum, vodka, and other spirits under brands like Hunter, Black Fort, and Pentagon. Based in Bhopal, it has a significant market share in central and northern India.
With a market capitalization of Rs. 2,609.20 crores on Tuesday, the stock closed at Rs. 134.65 a piece, which is currently taking support at the 200-day moving average of Rs. 135.03 in a day’s Time Frame and currently trading at a discount price of 22 percent from the all-time high.
Written by Sridhar J
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