In the Nifty500 pack, 14 stocks’ closing prices crossed below their 200 DMA (Daily Moving Averages) on February 12, 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 to determine the overall trend in a particular stock. Take a look:
Why did market rise today? Sensex soars 890 pts, Nifty closes above 24,250; 4 factors behind Rs 4 lakh cr gains on D-Street
Indian stock markets experienced a significant surge on Wednesday. Benchmark indices Sensex and Nifty both rose over one percent. This occurred despite a sharp increase