In the Nifty500 pack, the closing prices of 29 stocks fell below their 200-day moving averages on February 01, according to StockEdge.com’s technical scan data. Of these, we have highlighted 13 stocks that slipped more than 4%. Trading below the 200 DMA is considered a negative signal because it indicates that the stock’s price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
Mcap of 8 of top-10 firms erodes by Rs 1.55L cr
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj