These stocks are near their 10-week moving average!

With Nifty crashing from its all-time high, traders are in a dilemma of when to take positions in the stock that they wish to trade in. Traders often lose the opportunity to capture great trades due to the factors like Omicron scare, Fed tapering, and FII selling. So, here’s an indicator called the 10-week moving average, or simply 10-WMA, which helps traders to make their entry in trades.  

It is a simple technical indicator that uses the previous prices to smoothen the price curve and helps in determining the trend direction of the underlying. It is widely used by institutions to determine the true value of a stock. So, whenever a stock approaches the 10-WMA, we have seen that the stock takes support at that point and rallies upward again. The psychology behind the upmove is that most of the traders indicate their buying interest at this level and this surge in buying interest lifts the stock price.  

So, here is the list of stocks that are trading near their 10-WMA: