In the Nifty500 pack, nine stocks’ close prices crossed below their 200 DMA (Daily Moving Averages) on March 6, according to stockedge.com’s technical scan data. 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:
Nifty slide may extend to 23,535 but mean-reversion bounce possible, says Anand James
Nifty’s breach below its 200-day moving average intensifies correction fears, with geopolitical tensions and weak global cues weighing on sentiment. Geojit Investments’ Anand James outlines