Golden Crossovers: Adani Power among 5 stocks signalling further bullishness
By Ritesh Presswala, ETMarkets.com |
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Bullish Signals
Five stocks with a market cap of over Rs 500 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on August 02.
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Heubach Colorants India
CMP: Rs 413.25 | 50-Day SMA: Rs 350.84 | 200-Day SMA: Rs 349.2
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Brightcom Group
CMP: Rs 25.75 | 50-Day SMA: Rs 25.75 | 200-Day SMA: Rs 25.66
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4/6
Adani Power
CMP: Rs 267.7 | 50-Day SMA: Rs 255.34 | 200-Day SMA: Rs 254.86
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Visaka Industries
CMP: Rs 82.85 | 50-Day SMA: Rs 85.01 | 200-Day SMA: Rs 84.86