Jul 11, 2011, 05.44 PM IST
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.
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.
There are as many as 11 stocks on the NSE universe that have broken their respective 200 DMA in today's trade. These are Esab India , India Glycols , JSL Stainless , Zenith Infotech , Phoenix Mills , Tanfac Industries , Essar Oil , Arrow Textiles , Ador Welding , Jay Bharat Maruti and Lumax Industries . (For further technical details click here )
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
Tags: Esab India, India Glycols, JSL Stainless, Zenith Infotech, Phoenix Mills, Tanfac Ind, , Essar Oil, Arrow Textiles, Ador Welding, Jay BharatMarut, Lumax Inds
Action in Esab India
Video of the day
Dec 6 2013, 15:02
- in MARKET OUTLOOK
Dec 4 2013, 11:08
- in FII View
We notice that this Email ID is already verified against Moneycontrol User ID. Just enter your password and login to Set Alert.
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.