In the Nifty500 pack, four stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on September 30, 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:
Tech Mahindra shares zoom 4% after CLSA upgrades stock to outperform, hikes TP to Rs 1,749
Shares of Tech Mahindra surged 4.2% to Rs 1,642.20 on the BSE after CLSA upgraded the stock to ‘outperform’ from ‘hold’ with a target price