ITC, IndusInd, TCS among 10 Nifty50 stocks with Golden Crossover pattern

economictimes.indiatimes.com:

Golden Crossover, a technical pattern that excites traders and investors alike. On July 21, Friday, Trendlyne reported 45 Nifty50 stocks that have recently experienced a Golden Crossover. In this article, we delve into what the Golden Crossover is, why it is crucial for assessing stock movements, and explore 10 stocks from the pack that have displayed this bullish pattern, as chosen by ETMarkets.

The Golden Crossover is a bullish technical pattern that occurs when a stock's short-term moving average crosses above its long-term moving average. In particular, it refers to the 50-day simple moving average (SMA) crossing over the 200-day SMA. This event is considered highly significant as it reflects a potential shift in the stock's price trajectory from bearish to bullish.10 Stocks Displaying the Golden Crossover: 1) ITC Ltd.

(50Day SMA: Rs 449.1, 200Day SMA: Rs 383.4): A diversified conglomerate with interests in FMCG, hotels, and more. 2) IndusInd Bank Ltd. (50Day SMA: Rs 1313.4, 200Day SMA: Rs 1189): A prominent private sector bank.

3) JSW Steel Ltd. (50Day SMA: Rs 748.7, 200Day SMA: Rs 718.2): A leading steel manufacturer. 4) Kotak Mahindra Bank Ltd.

(50Day SMA: Rs 1895.7, 200Day SMA: Rs 1841.2): A renowned private sector bank. 5) LTIMindtree Ltd. (50Day SMA: Rs 4960.1, 200Day SMA: Rs 4689.4): An information technology consulting firm.

6) Larsen & Toubro Ltd. (50Day SMA: Rs 2342.8, 200Day SMA: Rs 2177.7): A leading engineering and construction company. 7) Mahindra & Mahindra Ltd.

(50Day SMA: Rs 1396.1, 200Day SMA: Rs 1297.8): A prominent automobile manufacturer. 8) Maruti Suzuki India Ltd. (50Day SMA: Rs 9507.4, 200Day SMA: Rs 8893.5): India's largest car manufacturer.