Have you noticed a bullish crossover in these stocks yet?

The frontline indices progressed on Monday; however, the advance decline ratio was in favor of the declines with the broader markets suffering with heavy losses in several smallcaps.  

There are at least 200 out of NSE 500 stocks that lost 20 per cent to 75 per cent from 52-week highs. This is suggestive of the ongoing market correction not reflected in the frontline indices.  

While the number of declining stocks was more than the number of stocks that advanced there were several stocks that bucked the trend in the broader markets and gather positive momentum.  

A bullish crossover was seen in several scrips on Monday. Several stocks were seen crossing their respective 20D EMA and closing higher than the short-term moving average. Such a crossover above 20D EMA is considered short term bullish. If aided with volumes such bullish crossover stocks can be analysed further to observe potential opportunities.  

Following stocks displayed a bullish crossover (20D EMA) on Monday with spike in volume:  

1. New India Assurance 
2. Hatson Agro  
3. Escorts  
4. PNC Infratech 
5. Gujarat Fluorochem 
6. Indian Energy Exchange