17 Bluechip Stocks That Have Fallen Below 200-Days Moving Averages

The last few quarters have seen the Indian markets in terms of indices go nowhere. At one point, the Sensex climbed past the 63,000 points mark, only to now dip below the 58,000 points mark. Fears of rising interest rates are capping any substantial gains for the markets.

17 Stocks trading below 200-days moving averages

The names of the stocks that are trading below 200 day moving averages include names like Aarti Surfactants, Alkyl Amines, Bandhan Bank, Barbeque Nation, CDSL, Divis Labs, Eris Lifesciences, Gillette India, Golden Tobacco, ICICI Prudential, IPCA Labs, Motilal Oswal Financial Services, Page Industries, United Drilling, Tamil Nad Mercantile Bank and TV Today Network.

Generally speaking when stocks fall below 200-day moving averages it is perceived as a sign of weakness in these stocks with a possibility of these stocks falling even further. Having said that it is always a good idea to also look at stocks that are fundamentally sound and not only have leadership positions and are low on debt.

Meanwhile, according to Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd the Nifty once again extended the losses further after resisting near the crucial zone of 17200 levels in the morning session and thereafter amid some volatility witnessed profit booking to end near the 17050 zone with support maintained near the 17000 zone during the intraday session. "Currently, the index has got the next major support zone near 16700 levels if a decisive breach below 17000 is witnessed and trend can turn very much weak with overall sentiment a cause of concern. The support for the day is seen at 16900 while the resistance is seen at 17200," she said in her latest report.

Disclaimer

This article is for information purposes only and highlights some of the stocks that have fallen below 200 day moving averages. The article should be treated as informational and not an advisory to invest and there are no buy, sell of hold calls made. Neither the author, nor Greynium Information Technologies Pvt Ltd should be held responsible for decisions based on this article.