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
HCL Technologies Limited
HCL Technologies is a global IT services company specializing in digital transformation, cloud solutions, and engineering services. It serves various sectors including healthcare, banking, and manufacturing, with a strong focus on innovation and technology-driven solutions.
With a market capitalization of Rs. 4.63 Lakh crores on Tuesday the stock is currently trading at Rs. 1,708 a piece which is currently taking support at the 200-day moving average of Rs. 1,695.20 in a day’s Time Frame and currently trading at a discount price of 15 percent from the all-time high Rs. 2,011.00.
HDFC bank
HDFC Bank is one of India’s leading private-sector banks, offering a broad range of financial services including savings accounts, loans, and investment products and known for its customer-centric approach and strong presence in retail and corporate banking.
With a market capitalization of Rs. 13.16 Lakh crores on Tuesday the stock is currently trading at Rs. 1,723 a piece which is currently taking support at the 200-day moving average of Rs. 1,672.86 in a day’s Time Frame and currently trading at a discount price of 8 percent from the all-time high Rs. 1,880.00.
JSW Steel Limited
JSW Steel is one of India’s largest steel manufacturers, producing a wide range of steel products for industries such as automotive, construction, and infrastructure and the company is part of the JSW Group, known for its focus on sustainability and innovation in the steel sector.
With a market capitalization of Rs. 2.36 Lakh crores on Tuesday the stock is currently trading at Rs. 968.35 a piece which is currently taking support at the 200-day moving average of Rs. 938.90 in a day’s Time Frame and currently trading at a discount price of 9 percent from the all-time high Rs. 1,063.35.
Ultratech cement Limited
UltraTech Cement, a part of the Aditya Birla Group, is the largest manufacturer of grey cement, ready-mix concrete, and white cement in India. It caters to the construction industry, offering products for both residential and commercial projects across the country.
With a market capitalization of Rs. 3.26 Lakh crores on Tuesday the stock is currently trading at Rs. 11,300 a piece which is currently taking support at the 200-day moving average of Rs. 11,199.3 in a day’s Time Frame and currently trading at a discount price of 7 percent from the all-time high Rs. 12,143.90.
Written by Sridhar J
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