Stocks in focus: Navin Fluorine International, Fortis Healthcare, AstraZeneca Pharma crossed their 50DEMA levels

The benchmark indices closed in red for the tenth consecutive session as NIFTY50 and SENSEX fell 0.15% on Tuesday. The NIFTY closed 36 points lower at 22,082, and SENSEX closed 96 at 72,989. On the contrary, the NIFTY smallcap index jumped 101 points to close 0.7% higher at 14,762 levels, and NIFTY Midcap 100 closed 23 points higher at 48,000 levels, bucking the overall negative trend.

Sectorally, the NIFTY Media, PSU Bank, Healthcare, and Metals sectors were the top gainers with gains of up to 2.3% on Tuesday, and the Auto, IT, and FMCG sectors were the top sectoral losers with losses of up to 1.3%.

On a technical basis, the NIFTY50, SENSEX, and broader indices like the NIFTY Midcap 100 are taking support from the 500-day exponential moving average. Overall market breadth remained largely in favour of advances, as 1,658 stocks closed in green against 1,215 in the red.

Out of these 1,658 stocks, some stocks gathered momentum and closed above the 50-day exponential moving average (50 DEMA). Stocks closing above 50DEMA from below indicate a resumption of bullish momentum in them.

Fortis Healthcare

Source: Upstox.pro

Navin Fluorine International

Source: Upstox.pro

AstraZeneca Pharmaceuticals

Source: Upstox.pro

The shares of vaccine makers closed nearly 6.5% higher on the NSE at ₹7,306 apiece, crossing their 50DEMA levels of ₹7,059 apiece. The shares have gained 34% in the last year and fell 10% from the record high levels of ₹8,139 in the recent correction.

In addition, stocks like Godrej Agrovet, Craftsman Pharma,NLC India, and Sundaram Finance also closed above their respective 50DEMA levels.