In the Nifty200 pack, five stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on October 24, 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:
IREDA, RVNL among 12 midcap multibaggers since last Diwali. 10 gems for next Samvat
Analysts suggest a cautiously optimistic approach for Indian equities amid current market corrections. Top stock picks from Fisdom Research include HCL Technologies, IndusInd Bank, Max