Tata Steel, Nestle India among 10 Nifty stocks with golden crossover pattern
Nifty stocks that currently exhibit this pattern. But first, let's understand what the Golden Crossover is and why it holds value for investors.
The Golden Crossover is a crucial technical indicator that signifies a potential shift in market sentiment, marking the beginning of a bullish trend.
This pattern emerges when a stock's short-term moving average, typically the 50-day moving average, crosses above its long-term moving average, which is typically the 200-day moving average. The 50-day moving average helps in gauging a stock's short-term performance, while the 200-day moving average identifies long-term trends.
10 Nifty Stocks Displaying the Golden Crossover
On October 17, Trendlyne reported the presence of the Golden Crossover pattern in over 40 Nifty stocks.
Here, we present 10 stocks reflecting this pattern:
1) Nestle India Ltd.
50Day SMA Rs: 22382.8
200Day SMA Rs: 21109.6
2) Oil and Natural Gas Corporation Ltd.
50Day SMA Rs: 181
200Day SMA Rs: 162.8
3) Power Grid Corporation of India Ltd.
50Day SMA Rs: 192
200Day SMA Rs: 178.2
4) SBI Life Insurance Company Ltd.
50Day SMA Rs: 1310.2
200Day SMA Rs: 1229.2
5) State Bank of India
50Day SMA Rs: 582
200Day SMA Rs: 571.1
6) Sun Pharmaceutical Industries Ltd.
50Day SMA Rs: 1134
200Day SMA Rs: 1036.6
7) Tata Consultancy Services Ltd.
50Day SMA Rs: 3493
200Day SMA Rs: 3350.5
8) Tata Consumer Products Ltd.
50Day SMA Rs: 862.8
200Day SMA Rs: 793.5
9) Tata Motors Ltd.
50Day SMA Rs: 620.6
200Day SMA Rs: 522.4
10) Tata Steel Ltd.
50Day SMA Rs: 124.3
200Day SMA Rs: 114.6
(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own.
