Technical breakout: Shree Renuka Sugars, DC Shriram and 6 other stocks cross 100-day SMA
Crossing the 100-day Simple Moving Average is a crucial technical indicator for stocks, often signaling potential shifts in short-term trends. On August 3, 2023, companies such as Optiemus Infracom, Shree Renuka Sugars, Insecticides (India), Dwarikesh Sugar Industries, Fine Organic Industries, Shipping Corporation Of India, IOL Chemicals and Pharmaceuticals, and DCM Shriram showcased strong performance in their respective sectors.
Let’s explore the performance of these stocks. (Data Source: StockEdge)
1. Optiemus Infracom
Optiemus Infracom, a leading technology company, displayed resilient market momentum by crossing its 100-day SMA at Rs 208.27, with a closing price of Rs 222.9 on August 3.
2. Shree Renuka Sugars
Shree Renuka Sugars, a prominent player in the sugar industry, demonstrated positive market momentum as it surpassed its 100-day SMA at Rs 44.56, with a closing price of Rs 45.65 on August 3.
3. Insecticides (India)
Insecticides (India), a leading agrochemicals company, showcased impressive market performance by crossing its 100-day SMA at Rs 457.99, with a closing price of Rs 464.55 on August 3.
4. Dwarikesh Sugar Industries
Dwarikesh Sugar Industries, a significant player in the sugar manufacturing segment, demonstrated positive market momentum by surpassing its 100-day SMA at Rs 90.61, with a closing price of Rs 91.15 on August 3.
5. Fine Organic Industries
Fine Organic Industries, a leading player in the specialty chemicals industry, showcased strong market performance as it surpassed its 100-day SMA at Rs 4563.86, with a closing price of Rs 4588.15 on August 3.
6. Shipping Corporation Of India
Shipping Corporation Of India, a prominent shipping company, demonstrated positive market momentum as it crossed its 100-day SMA at Rs 101.82, with a closing price of Rs 102.1 on August 3.
7. IOL Chemicals and Pharmaceuticals
IOL Chemicals And Pharmaceuticals, a leading pharmaceutical company, displayed resilient market momentum by surpassing its 100-day SMA at Rs 385.83, with a closing price of Rs 386.6 on August 3. ..
8. DCM Shriram
DCM Shriram, a significant conglomerate, demonstrated positive market momentum as it surpassed its 100-day SMA at Rs 846.85, with a closing price of Rs 847.85 on August 3.
(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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