In the Nifty500 pack, the closing prices of 21 stocks fell below their 200-day moving averages on January 9, according to StockEdge.com’s technical scan data. Of these, we have highlighted 11 stocks that slipped more than 2%. Trading below the 200 DMA is considered a negative signal as 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:
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20