Midcap stocks witnessing golden crossover
Golden crossover depicts a change in trend with positive bias. Read on to find out about top midcap stocks that are witnessing golden crossover.
Yesterday, US stocks ended sharply lower with the S&P 500 sliding into a correction mode. This was amid the Russian President Vladimir Putin’s decision to order troops to independent regions of Ukraine, further escalating the tensions of a complete invasion. Driven by these developments of Russia and Ukraine, on February 22, 2022, the Nifty 50 was down 0.67% (114.4 points) to end the session at 17,092. Nifty 50 ended lower for the fifth successive session. Broader market indices such as the S&P BSE smallcap index and S&P BSE midcap index ended lower thereby underperforming the S&P BSE Sensex. Market breadth on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) was negative.
The golden crossover occurs when a short-term moving average breaches above a major long-term moving average. Typically, when 50-Day Simple Moving Average (SMA) crosses 200-Day SMA from below, then it is considered as a golden crossover. Few analysts use Exponential Moving Average (EMA) instead of SMA and few also consider 100-Day SMA instead of 200-Day SMA. Golden crossover usually suggests a probable long-term trend reversal. Though this is not a full-proof indicator, can be a good start to screen stocks that are probably heading towards a trend reversal. This along with price action usually help investors invest in stocks with a long-term bias.
Golden crossover and death crossover are considered to be reasonable entry and exit points in stocks.
Name |
Last Traded Price (Rs) |
Change (%) |
SMA 50 |
SMA 200 |
40,994.0 |
0.7 |
42,545.4 |
42,056.8 |
|
13.8 |
1.5 |
13.7 |
13.1 |
|
653.0 |
-1.6 |
638.9 |
615.5 |
|
11.0 |
0.5 |
12.6 |
10.3 |
|
242.7 |
0.9 |
304.8 |
261.6 |
Also read: These stocks witness huge volume burst in the last leg of the trading session!
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