Adani Total Gas, Cochin Shipyard, among 5 large-cap stocks trading above 200 EMA level; key things to know

While the benchmark NIFTY50 erased its early market gains on Wednesday, August 25, dragged down by heavyweight stocks, there were five large-cap companies standing out as they surpassed their long-term moving average of 200-EMA despite the weakness in the broader market.

NSE data showed that the NIFTY50 index was down around 0.3% at 24,265.35 points during Wednesday’s trading session, in comparison to 24,334.55 points at the previous equity market close.

The BSE SENSEX was down 0.11% to 77,571 points as of the afternoon market hours, in comparison to 77,656.09 points at the previous stock market close, according to the exchange data.

During the morning hours, investors focused on the third day of sharp decline in global crude oil prices to $85 per barrel (bbl) levels and buying cues from Asian markets, before switching to a profit-booking stance later during the day, spread across major high-growth sectors.

Stocks bucking the trend were Adani Total Gas, Cochin Shipyard, Kaynes Tech, Delhivery, and Sagility, which crossed their 200-EMA levels during the trading session on August 26, indicating a strong bullish trend and healthy momentum on the technical charts.

What does stocks trading below & above 200-EMA mean?

EMA or Exponential Moving Average is a technical metric used by traders to calculate the average price of a stock over a set period of time. In comparison to other moving average metrics, EMA is more sensitive to price changes, enabling traders to understand the trends better.

So, in the case of 200-EMA, it means the average price of a company’s stock over one full year or approximately the last 200-250 trading sessions.

Any stock trading above its 200-EMA level means bullish long-term momentum in the market with high investor interest, while a stock trading below its 200-EMA marks a bearish long-term trend where investors are selling the stock.

Top 5 stocks trading above 200-EMA

Adani Total Gas

Adani Total Gas shares surged more than 2% during the trading session on Wednesday, as investors focused on the pullback in global crude oil prices and an overall 8% decline in the commodity over the last three days.

As the company is a supplier of natural gas, a crude oil derivative, investors are looking at margin gains from the direct impact of the lower raw material costs in the market. This fall in prices will also potentially aid the company's revenues in the period due to a reduction in input costs.

ATGL shares touched an intraday high of ₹654.70 apiece on NSE, crossing its 200-EMA level of ₹641.11 apiece, as per the exchange data.

Cochin Shipyard

Shares of the shipbuilding company, Cochin Shipyard, surged 2.3% during the intraday trading session on August 26, as investors focused on the central government’s plan to add 100 new vessels to its merchant navy fleet over the next five years.

This move by the government comes to cut the $75 billion in maritime freight bills, while the country aims to make its shipping sector more competitive in the upcoming period. The new vessel plan specifically means the government wants to add commercial ships which can carry cargo to foreign nations.

Cochin Shipyard shares jumped to touch an intraday high of ₹1,554.40 apiece on NSE, surpassing the 200-EMA level of ₹1,529.67 apiece on Wednesday’s market.

Delhivery

Logistics solutions provider Delhivery shares gained nearly 1% during the trading session on Wednesday, remaining in positive territory despite an overall weakness in the equity market, which dragged the benchmark indices into the red zone.

The company’s shares touched an intraday high of ₹451.80 apiece on August 26, crossing its 200-EMA level of ₹448.77 apiece during the trading session, as per NSE data.

On a year-to-date (YTD) basis, Delhivery shares have given more than 12% returns to investors, but have lost 2.7% in the past one month, according to the exchange data.

Earlier this month, the company posted a decline in overall profits for the June quarter of FY27 due to freight costs powering the overall increase in expenses for the period.

Kaynes Technology

Shares of Kaynes Technology India surged 4.6% during the stock market hours on Wednesday, with trading volumes crossing more than 1.5 million equity shares during the day.

The electronic component manufacturing company's shares touched an intraday high of ₹4,117.90 apiece on August 26, surpassing the stock’s 200-EMA level of ₹4,029.67 apiece, as per the exchange data.

On a YTD basis, the stock has given 2.7% returns, over 27% gains in the last one month, and has been trading more than 6% higher in the last five market sessions on NSE.

In the Q1 results, Kaynes Tech recorded a 40% YoY growth in consolidated revenues and a 31% increase in the operational-level earnings before interest, tax, depreciation and amortisation (EBITDA). However, the company's profits declined 24% YoY to ₹56.39 crore.

Sagility

Sagility shares surged 7% during the trading session on Wednesday as investors powered high-volume gains, with trading volumes surpassing 85 million on the National Stock Exchange.

Shares of Sagility jumped to an intraday high of ₹46.10 apiece on August 26, crossing beyond its 200-EMA level on Wednesday’s market, which was at ₹43.29 apiece, as per the exchange data.

With a market cap of more than ₹20,719 crore, the large-cap stock has delivered more than 9% returns in the last one-month, and around 4.3% gains in the past five market sessions. However, the company’s stock has lost nearly 15% on a YTD basis.