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In the Nifty500 pack, seven stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on February 21, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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The Sensex dropped by nearly 425 points due to significant selling in various sectors including auto, pharma, and banking shares. NHPC, ITI, and JSW Energy showed varied performances with potential trading opportunities. Investors are advised to wait for key resistance breakouts and monitor price actions closely for favorable setups.
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Quality Power Electrical shares will debut on the stock exchange following an IPO offered at Rs 425 per share. The IPO saw a subscription rate of 1.2 times, raising concerns due to a muted grey market premium, suggesting a flat to negative listing debut.
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