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Check out: 11 stocks that are trading over 200 DMA
There are different ways to analyse the inherent technical strength of a stock. One of the simplest way to choose quality stocks that one can bet on is by comparing the stock's 200 day simple moving average with its current price.
There are different ways to analyse the inherent technical strength of a stock. One of the simplest way to choose quality stocks to bet on is by comparing their 200 day daily moving average (DMA) or simple moving average (SMA) with the current price.
According to technical analysts, stocks that trade above their 200 day DMA, simple moving average, are technically stronger than the others that are trading below.
If we narrow down the list of companies and just concentrate on the BSE Sensex index, we find majority of the stocks are trading below the 200 day SMA. Out of the 30 BSE stocks, 11 were trading above while 19 were below their respective 200 day moving average.
List of the Sensex stocks trading above/below their 200-DMA