These strong stocks from the Nifty 500 universe are witnessing a golden crossover

These strong stocks from the Nifty 500 universe are witnessing a golden crossover

Mutual Funds
by 5paisa Research Team Last Updated: 2022-10-17T17:14:08+05:30

Nifty 50 started today’s session lower and ends near the day’s high. However, some stocks witnessed a golden crossover.

Nifty 50 opened lower amid weak global cues at 17,144.8 but ended the session near the day’s high. In fact, despite a weak Friday’s closing on concerns over the worsening of inflation leading the Fed to continue its aggressive monetary tightening, the futures of key Wall Street indices were trading in green at the time of writing.

Nasdaq Composite ended Friday’s session in red falling 3.08%. Dow Jones tanked 1.34% and S&P 500 plummeted 2.4%. Tracking the weak global cues, Asian peers too declined.

At the closing bell, Nifty 50 ended the session at 17,311.8, up 126.1 points (0.73%). Broader market indices underperformed frontline indices. Nifty Mid Cap 100 index was trading up by 0.16%, while Nifty Small Cap 100 index gained 0.45%.

In the last one month, Nifty 50 is down 1.76%. Despite such a performance, some pockets showed positive signs. We have identified a few stocks that have attained golden crossover.

A golden crossover occurs when a short-term moving average crosses over a significant long-term moving average. When a 50-Day Moving Average (DMA) crosses a 200-Day Moving Average (DMA) from below it is referred to as a golden crossover.

Name 

LTP (Rs) 

Change (%) 

SMA 50 

SMA 200 

Crossover Date 

Hatsun Agro Products Ltd. 

1,017.1 

2.1 

1,043.9 

1,041.4 

Oct 13, 2022 

Avanti Feeds Ltd. 

484.0 

0.9 

479.4 

478.8 

Oct 13, 2022 

Zee Entertainment Enterprises Ltd. 

263.9 

-1.3 

259.6 

259.0 

Oct 13, 2022 

Redington Ltd. 

137.1 

-0.8 

145.5 

144.8 

Oct 12, 2022 

Zydus Lifesciences Ltd. 

418.3 

1.6 

381.6 

376.1 

Oct 11, 2022 

Zydus Wellness Ltd. 

1,705.0 

-1.7 

1,634.3 

1,623.9 

Oct 11, 2022 

IDBI Bank Ltd. 

42.9 

0.8 

42.5 

41.9 

Oct 11, 2022 

Apollo Hospitals Enterprise Ltd. 

4,292.9 

-0.1 

4,341.3 

4,326.2 

Oct 11, 2022 

Bank of Maharashtra 

18.8 

4.7 

18.0 

17.9 

Oct 11, 2022 

DCM Shriram Ltd. 

1,081.6 

3.7 

1,037.3 

1,034.1 

Oct 11, 2022 

 

 

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About the Author

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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