Divi's Laboratories, Dr. Reddy's Laboratories among 5 stocks with golden crossover pattern
Golden Crossover, why it's an essential part of stock analysis, and highlight 5 stocks that have recently witnessed this game-changing pattern.
The Golden Crossover is a powerful technical pattern used in stock market analysis. It occurs when a shorter-term moving average crosses above a longer-term moving average.
In most cases, this involves the 50-day Simple Moving Average (SMA) crossing above the 200-day SMA. The significance lies in the shift from a bearish trend to a bullish one, signifying strong upward momentum.
Spotlight on Stocks with the Golden Crossover
On November 6, Monday, Trendlyne reported the formation of the Golden Crossover in over 40 Nifty stocks.
We've picked 5 stocks that have experienced this significant pattern:
1) Coal India Ltd.
50-Day SMA: Rs 283.1
200-Day SMA: Rs 241
2) Divi's Laboratories Ltd.
50-Day SMA: Rs 3646.5
200-Day SMA: Rs 3380.5
3) Dr. Reddy's Laboratories Ltd.
50-Day SMA: Rs 5564.8
200-Day SMA: Rs 4996.6
4) Eicher Motors Ltd.
50-Day SMA: Rs 3408.7
200-Day SMA: Rs 3336.7
5) Grasim Industries Ltd.
50-Day SMA: Rs 1893.5
200-Day SMA: Rs 1750.4
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(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)
