Synopsis:
Some stocks are showing support near their 200-day EMA, indicating a potential bounce. Is it worth keeping in your radar?
Traders and investors in the stock market frequently use technical indicators to help them make decisions. The 200-day Exponential Moving Average (200-D EMA) is a popular tool that highlights important price levels on the chart for both long-term investors and short-term swing traders.
What is 200-D EMA, and why is its support important?
The 200-day EMA is based on a stock’s average closing price over the previous 200 sessions, giving more weight to recent data. It is widely used to gauge the overall trend, as well as to help short-term traders identify strong support or resistance levels. A stock that is above this level typically indicates strength and buyer interest, whereas a stock that falls below it is frequently viewed as weak.
The following stocks are showing signs of taking support near their 200-day Exponential Moving Average (EMA)
1. Adani Ports & Special Economic Zone Ltd
Adani Ports and Special Economic Zone Ltd (APSEZ), a division of the Adani Group, is India’s largest port developer and operator, handling roughly 28% of total port cargo via its 15 ports and terminals on the east, west, and south coasts. It has also expanded globally, opening locations in Israel, Sri Lanka, and Tanzania. With its ports, logistics parks, warehouses, and industrial zones, APSEZ aspires to become the world’s largest port and logistics platform within the decade.
Adani Ports & Special Economic Zone Ltd, with a market capitalization of Rs. 2,83,712.65 crore, closed at Rs. 1,313.40, marking a decline of 2.01 percent from the previous close of Rs. 1,340.40. The stock is showing signs of support near its 200-day Exponential moving average (200-D EMA) at around Rs. 1,316.24.
2. Cholamandalam Financial Holdings Ltd
Cholamandalam Financial Holdings Limited is an Indian investment company with subsidiaries in finance and insurance. Its key subsidiaries include CIFCL, which provides vehicle financing, home loans, and property-backed loans; CMS General Insurance, which provides auto, travel, health, accident, home, and other insurance products; and CMS Risk Services, which provides risk management and engineering solutions in safety, health, and the environment.
With the market capitalization of Rs. 33,330.50 crore, the shares of Cholamandalam Financial Holdings Limited, closed at Rs. 1,784.50 on Tuesday, down by 2.92 percent from its previous day close of Rs. 1838.10 crore. The stock is taking support of the 200-day Exponential moving average (200-D EMA) at a price ~Rs. 1,781.40.
3. Sobha Ltd
Sobha Limited is an Indian real estate developer that operates in two main segments: Real Estate and Contractual & Manufacturing. The real estate segment specializes in the construction, development, sale, and management of townships, housing projects, and commercial properties, such as residential apartments, villas, row houses, luxury homes, and leased commercial properties.
The contractual and manufacturing segment is in charge of commercial building development and related activities, as well as interior design, glazing, metalwork, and concrete products.
Sobha Limited, with a market capitalization of Rs. 15,824.79 crore, closed at Rs. 1,487.10 on Tuesday, down by 1.24 percent from the previous close of Rs. 1,505.90. The stock is showing signs of support near its 200-D EMA at around Rs. 1,467.32.
4. Balrampur Chini Mills Ltd
Balrampur Chini Mills Limited (BCML) ranks among India’s largest integrated sugar producers, with additional operations in distilleries and power cogeneration. Recognized for its efficiency in sugar production, the company has expanded its capacity through strategic growth initiatives, including both capacity enhancement projects and acquisitions of existing businesses.
With the market capitalization of Rs. 11,176.91 crore, the Balrampur Chini Mills Limited was closed at Rs. 554 on Tuesday, down by 6.14 percent from its previous day close of Rs. 590.25. The stock is taking support of 200-day Exponential moving average (200-D EMA) at a price ~Rs. 551.93.
Written by Akshay Sanghavi
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