RIL, SBI, TCS among 10 Nifty50 stocks with Golden Crossover pattern
Golden Crossover is a powerful technical indicator which occurs when a stock's short-term moving average crosses above its long-term moving average, signifying a potential bullish trend ahead. On Thursday, July 20, Trendlyne reported 45 Nifty50 stocks that experienced this bullish pattern. From this list, ETMarkets has handpicked 10 stocks that have formed the Golden Crossover.
The Golden Crossover is a popular technical chart pattern that emerges when a stock's short-term moving average (usually the 50-day SMA) crosses above its long-term moving average (usually the 200-day SMA). This occurrence is considered a bullish signal, suggesting that the stock's short-term price momentum is gaining strength, leading to potential upward price movements. The Golden Crossover is widely regarded as a buy signal and often attracts the attention of traders and investors.
The Golden Crossover serves as a strong bullish reversal signal, indicating a potential shift from a downtrend to an uptrend in the stock's price. It validates the uptrend and may attract more investors to the stock.10 Nifty50 Stocks with Golden Crossover: 1) Reliance Industries Ltd. (50Day SMA Rs: 2552.7, 200Day SMA Rs: 2474.9): RIL is a diversified conglomerate with interests in various sectors, including oil and gas, retail, and telecommunications.
2) SBI Life Insurance Company Ltd. (50Day SMA Rs: 1244.9, 200Day SMA Rs: 1211.8): A leading private life insurance company in India. 3) State Bank of India (50Day SMA Rs: 580.9, 200Day SMA Rs: 569.5): India's largest public sector bank, offering a wide range of financial services.
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