In a terrible market, these companies are exhibiting a golden cross

In a terrible market, these companies are exhibiting a golden cross

by 5paisa Research Team Last Updated: Dec 11, 2022 - 01:25 am 25.1k Views
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Markets have been trading range-bound with negative bias. However, regardless of the same, there are some stocks that attained golden crossover. read on to find out more.

After the huge gap down opening on June 13, Nifty 50 futures have been trading range-bound between 15,700 to 15,850 levels. It did witness a good opening at 15,820 levels but gave up all its initial gains.

At the time of writing, Nifty 50 futures were trading near 15,750 levels with an intraday high of 15,865 and low of 15,706. Said that, a negative move from these levels cannot be ignored. Hence, it is crucial to watch out for 15,700 levels for Nifty 50 futures.

That being said, despite such a bearish tone of the market, there are pockets that are showing 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 

Jyothy Labs Ltd. 

151.9 

0.3 

151.6 

150.7 

Jun 09, 2022 

Ashok Leyland Ltd

136.6 

1.5 

129.8 

128.6 

Jun 09, 2022 

AIA Engineering Ltd

2,089.1 

-1.2 

1,919.7 

1,874.2 

Jun 08, 2022 

L&T Finance Holdings Ltd

70.8 

0.0 

79.8 

79.7 

May 26, 2022 

Maruti Suzuki India Ltd. 

7,994.4 

1.8 

7,682.4 

7,624.9 

May 23, 2022 

Godfrey Phillips India Ltd. 

1,162.0 

-0.8 

1,188.2 

1,147.9 

May 20, 2022 

Colgate-Palmolive (India) Ltd

1,507.3 

-0.6 

1,574.8 

1,539.4 

May 18, 2022 

Mahindra & Mahindra Financial Services Ltd. 

179.1 

0.8 

176.4 

168.1 

May 17, 2022 

Mahindra & Mahindra Ltd

1,028.6 

0.3 

930.1 

856.8 

May 17, 2022 

Bajaj Auto Ltd

3,678.8 

-0.5 

3,737.4 

3,604.1 

May 11, 2022 

 

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