SBI Life, Power Grid among 10 Nifty stocks with golden crossover pattern

In the ever-evolving world of stock markets, investors seek every advantage to make informed decisions. One such potent indicator that can guide investors is the Golden Crossover. On September 29, Friday, Trendlyne revealed that more than 40 Nifty stocks had witnessed the Golden Crossover, a pattern that often captures the attention of discerning investors. In this article, we will unravel the significance of the Golden Crossover and explore 10 stocks that could be potential gems for your portfolio.

The Golden Crossover is a bullish technical chart pattern that occurs when a shorter-term moving average crosses above a longer-term moving average. It's most commonly identified when a stock's 50-day Simple Moving Average (SMA) crosses above its 200-day SMA. This event signals a potential shift from a bearish trend to a bullish one and is closely monitored by traders and investors.

Now, let's delve into 10 stocks that have recently experienced the Golden Crossover:

1) Nestle India Ltd.
50Day SMA: Rs 22,337.4
200Day SMA: Rs 20,955.6

2) Oil And Natural Gas Corporation Ltd.
50Day SMA: Rs 178.4
200Day SMA: Rs 160.6

3) Power Grid Corporation of India Ltd.
50Day SMA: Rs 189.5
200Day SMA: Rs 176.1

4) Reliance Industries Ltd.
50Day SMA: Rs 2,478.2
200Day SMA: Rs 2,459.6

5) SBI Life Insurance Company Ltd.
50Day SMA: Rs 1,309.6
200Day SMA: Rs 1,226.9

6) State Bank of India
50Day SMA: Rs 587.1
200Day SMA: Rs 572

7) Sun Pharmaceutical Industries Ltd.
50Day SMA: Rs 1,130.4
200Day SMA: Rs 1,029.1

8) Tata Consultancy Services Ltd.
50Day SMA: Rs 3,457.9
200Day SMA: Rs 3,334.1

9) Tata Consumer Products Ltd.
50Day SMA: Rs 857.6
200Day SMA: Rs 789.1

10) Tata Motors Ltd.
50Day SMA: Rs 620.7
200Day SMA: Rs 510.2

(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)