Positive Breakout: Trident among 8 stocks that rose above their 200 DMAs

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In the Nifty500 pack, eight stocks’ prices crossed above their 200 DMA (Daily Moving Averages) on May 16, 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. Take a look:

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