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
Wipro Limited
Wipro is a leading global IT services and consulting company based in India, offering solutions in cloud computing, cybersecurity, AI, and digital transformation across various industries.
With a market capitalization of Rs. 2,97,604.37 crores on Friday, the stock closed at Rs. 284.80 a piece, which is currently taking support at the 200-day moving average of Rs. 276.08 in a day’s Time Frame and currently trading at a discount price of 12.5 percent from the all-time high Rs. 324.55.
Shakti Pumps Limited
Shakti Pumps is a leading Indian manufacturer of energy-efficient pumps and motors, specializing in solar-powered and stainless-steel submersible pumps for agricultural, industrial, and commercial use.
With a market capitalization of Rs. 11,032.93 crores on Friday, the stock closed at Rs. 918.35 a piece, which is currently taking support at the 200-day moving average of Rs. 786.24 in a day’s Time Frame and currently trading at a discount price of 33.5 percent from the all-time high Rs. 1,398.00.
Patanjali Foods Limited
Patanjali Foods, formerly Ruchi Soya, is a major player in India’s edible oil and FMCG sector, known for its healthy food products, including oils, atta, and ready-to-eat items, under the Patanjali brand.
With a market capitalization of Rs. 63,323.76 crores on Friday, the stock closed at Rs. 1,749.65 a piece, which is currently taking support at the 200-day moving average of Rs. 1,744.47 in a day’s Time Frame and currently trading at a discount price of 12 percent from the all-time high Rs. 2,030.00.
Coforge Limited
Coforge is a global IT services company specializing in digital transformation, AI, cloud solutions, and business process management, with a strong presence in banking, insurance, and travel industries.
With a market capitalization of Rs. 51,375.26 crores on Friday, the stock closed at Rs. 7.714.70 a piece, which is currently taking support at the 200-day moving average of Rs. 7,248.72 in a day’s Time Frame and currently trading at a discount price of 23 percent from the all-time high Rs. 10,017.95.
Written by Sridhar J
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