These stocks are witnessing a golden crossover in a bearish market
With a bearish bias, markets have been trading in a range. Regardless, several companies have achieved the golden crossing. Continue reading to learn more.
Nifty 50 futures have been trading range-bound between 15,700 and 15,850 levels since the massive gap down opening on June 13. Today, it had a terrific start at 15,820 levels, but quickly lost all of its gains.
Nifty 50 futures were trading at 15,750 at the time of writing, with an intraday high of 15,865 and a low of 15,706. Moreover, any negative movement from current levels cannot be disregarded. As a result, it is critical to keep an eye on the 15,700 level for Nifty 50 futures.
Having said that, despite the market's overall bearishness, there are pockets of strength. We have discovered a few businesses that have achieved golden crossing.
When a short-term moving average crosses over a substantial long-term moving average, this is referred to as a golden crossover. A golden crossing occurs when a 50-day moving average (DMA) crosses a 200-day moving average (DMA) from below.
| 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 |