In the NSE list of stocks with a market cap of over Rs 1000 crore, nine stocks crossed above their 200 DMAs (Daily Moving Averages) on May 5, according to stockedge.com’s technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.
Nilesh Shah on why you should never predict the market
Nilesh Shah of Kotak AMC has advised people not to try to predict the market, stating that more often than not, they will be wrong.