Midcap stocks witnessing golden crossover

Midcap stocks witnessing golden crossover

by 5paisa Research Team Last Updated: 2022-02-24T11:50:47+05:30

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 

Honeywell Automation India Ltd

40,994.0 

0.7 

42,545.4 

42,056.8 

YES Bank Ltd

13.8 

1.5 

13.7 

13.1 

TVS Motor Company Ltd

653.0 

-1.6 

638.9 

615.5 

Vodafone Idea Ltd

11.0 

0.5 

12.6 

10.3 

Zee Entertainment Enterprises Ltd

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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