Tech Mahindra, SBI among 10 Nifty stocks with golden crossover pattern

If you're an investor looking for opportunities in the stock market, it's essential to pay attention to technical indicators that can help you make informed decisions. One such powerful indicator is the "Golden Crossover." On September 6, Wednesday, Trendlyne reported that over 40 Nifty stocks have witnessed this significant pattern, and ETMarkets has picked 10 stocks from this list that deserve your attention. In this article, we will explore what the Golden Crossover is, why it's important for assessing stock movement, and delve into these 10 promising stocks.

The Golden Crossover is a popular technical analysis pattern that occurs when a stock's short-term moving average (usually the 50-day) crosses above its long-term moving average (typically the 200-day). This event is seen as a bullish signal by traders and investors. It suggests that the stock's recent performance is improving, and the trend is shifting in favor of the bulls. In other words, it signifies the potential for an uptrend in the stock's price.

Now, let's look at the 10 stocks that have recently experienced the Golden Crossover:

1. Reliance Industries Ltd.
50-Day SMA: Rs 2558
200-Day SMA: Rs 2478.7

2. SBI Life Insurance Company Ltd.
50-Day SMA: Rs 1298.7
200-Day SMA: Rs 1221

3. State Bank of India
50-Day SMA: Rs 584.8
200-Day SMA: Rs 573.2

4. Sun Pharmaceutical Industries Ltd.
50-Day SMA: Rs 1101.1
200-Day SMA: Rs 1020

5. Tata Consultancy Services Ltd.
50-Day SMA: Rs 3383.9
200-Day SMA: Rs 3320.1

6. Tata Consumer Products Ltd.
50-Day SMA: Rs 848.7
200-Day SMA: Rs 782.4

7. Tata Motors Ltd.
50-Day SMA: Rs 614
200-Day SMA: Rs 494.4

8. Tata Steel Ltd.
50-Day SMA: Rs 117.8
200-Day SMA: Rs 112.1

9. Tech Mahindra Ltd.
50-Day SMA: Rs 1183.7
200-Day SMA: Rs 1093.4

10. Titan Company Ltd.
50-Day SMA: Rs 3031.9
200-Day SMA: Rs 2695

(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)