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Long-term moving averages, such as the 200-day moving average, are closely watched areas of support and resistance for stocks.
Trend Identification: Traders make use of moving averages to identify the trend in stock. A rising 200-day moving average reflects that the long-term trend is up and stock can be traded with a positive bias. A stock in a long-term uptrend could find support near its medium-term moving average during a pullback, similarly a stock in a long-term downtrend could face resistance near its medium-term moving average during any bounce back. In fact, some moving averages may offer support or resistance simply because it is widely used by many traders. Generally, stocks which close above its 200day moving average are considered as strong counters, hinting a possible upward momentum in the short term & vice-versa.
Following is the list of stocks that have given a price breakout above its 200 days moving average on the daily chart and are likely to trade with a positive bias in the short-term:
Trend Identification: Traders make use of moving averages to identify the trend in stock. A rising 200-day moving average reflects that the long-term trend is up and stock can be traded with a positive bias. A stock in a long-term uptrend could find support near its medium-term moving average during a pullback, similarly a stock in a long-term downtrend could face resistance near its medium-term moving average during any bounce back. In fact, some moving averages may offer support or resistance simply because it is widely used by many traders. Generally, stocks which close above its 200day moving average are considered as strong counters, hinting a possible upward momentum in the short term & vice-versa.
Following is the list of stocks that have given a price breakout above its 200 days moving average on the daily chart and are likely to trade with a positive bias in the short-term:
| Stocks | CMP | 200day EMA |
| Alkem | 2024 | 1971 |
| Shree Cements | 17764.5 | 16870 |
| Carborundum Univ Ltd | 345.9 | 344.5 |
| Arvind Limited | 430.55 | 405.3 |
| Supreme Industries | 1220.65 | 1210.15 |
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