Nov 10, 2023

Zomato among 3 largecap stocks that closed below VWAP on November 9. Time to sell?

Ritesh Presswala, ETMarkets.com

On Downhill

On November 9, three stocks within the largecap pack witnessed a decrease in their closing prices by over 1% compared to the VWAP (Volume Weighted Average Price); a shift below the VWAP suggests a potential bearish trend, according to stockedge.com's technical scan data. When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume. This can be seen as a potential indication of increased selling pressure.

Image Source: Agencies

Samvardhana Motherson International

VWAP: Rs 91.14| LTP: Rs 90

Image Source: ETMarkets.com

Zomato

VWAP: Rs 123.31| LTP: Rs 121.85

Image Source: ETMarkets.com

Berger Paints India

VWAP: Rs 584.57| LTP: Rs 578.95

Image Source: ETMarkets.com

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