Technical breakthrough: Canara Bank, SBI and 8 others cross 50-day SMA

economictimes.indiatimes.com:

50 SMA is a widely used technical indicator that helps investors assess recent price movements. The occurrence of a stock crossing its 50 SMA can attract the attention of traders and investors looking for potential opportunities. Let's explore the stocks that crossed their 50 SMA on July 3, 2023, and provide a brief overview of these companies.

(Data Source: StockEdge)1. Canara BankCanara Bank is a prominent public sector bank in India. On July 3, 2023, the stock closed at Rs 318.5, surpassing its 50 SMA of Rs 306.37.2. State Bank of IndiaState Bank of India is the largest public sector bank in India.

With a closing price of Rs 585.45 on July 3, 2023, the stock crossed its 50 SMA of Rs 575.44.3. Oil & Natural Gas Corporation (ONGC)Oil & Natural Gas Corporation is a major Indian multinational oil and gas company. On July 3, 2023, the stock closed at Rs 162.9, surpassing its 50 SMA of Rs 160.42.4. Indian Overseas BankIndian Overseas Bank is a public sector bank in India.

With a closing price of Rs 24.95 on July 3, 2023, the stock crossed its 50 SMA of Rs 24.59.5. Bank of MaharashtraBank of Maharashtra is a public sector bank in India. On July 3, 2023, the stock closed at Rs 29.95, surpassing its 50 SMA of Rs 29.54.6. Punjab & Sind BankPunjab & Sind Bank is a public sector bank in India.

With a closing price of Rs 32.55 on July 3, 2023, the stock crossed its 50 SMA of Rs 32.11.7. Welspun IndiaWelspun India is a leading textile company in India. On July 3, 2023, the stock closed at Rs 94.15, surpassing its 50 SMA of Rs 93.11.8. Hindalco IndustriesHindalco Industries is a leading aluminum and copper manufacturing company.