Top midcap stocks witnessing death crossover

The Indian market has been quite volatile recently and is still trading with a negative bias. In this article, we would be listing top midcap stocks witnessing death crossover.

Continuing with the optimism witnessed in yesterday’s session, markets today again witnessed a gap up opening. On March 8, 2022, Nifty 50 formed a bullish engulfing candlestick pattern near the swing low, showing bulls are trying to get their control back. Today, Nifty 50 opened at 16,078 making a high and low of 16,173 and 15,990, respectively. At the time of writing Nifty 50 is trading at 16,122 levels.

The major support zone for Nifty 50 is placed between 15,700 to 16,000, while its resistance zone ranges from 16,300 to 16,700 levels. Breaching these levels on either side would further decide the direction of the market. But as of now Nifty 50 is still moving in lower highs and lower lows pattern, unless the market breaks this pattern on the upside, the markets would continue trading with the negative bias.

Therefore, this is the right time to review your portfolio and exit the losing trades, while holding on to your winners. There are various methods to do so and one such is death crossover.

Those traders who follow moving average closely uses 50 Day Moving Average (DMA) and 200 DMA crossovers to review their stocks. If the stock’s 50 DMA crosses its 200 DMA from beneath, then it is known as golden crossover and if it is vice versa then it is known as the death crossover. In this post, we would be listing top mid-cap stocks that are witnessing death crossover.