Golden Crossover Stocks INFY NOCIL KNRCON SPIC
The Nifty was up 89.20 points to close at an all-time high of 20,192.30 on 15th September 2023. About 1,872 shares advanced, 1,649 shares declined, and 145 shares were unchanged. Sensex similarly, closed at 67727.53. Many large-cap and mid-cap stocks reached their all-time high during this time and moving up.
Experts believe that; this is the time for the Indian stock market. As the interest starts falling again both the fed rate of the US and the rate of interest in India, the Indian stock market will start its second bull run that will be a continuation of this bull run. So, this is just the start of the Indian bull market. We will share a few fundamentally strong stocks that just formed a Golden Crossover with a strong tailwind. We will share the golden crossover stocks that have formed either with EMA or DMA.
Table of Contents
Golden Crossover Stocks INFY
Infosys (Infy) | CMP Rs 1511 | Shares formed a golden cross over with its 50 EMA crossed 200 EMA at this level. This is one of the best companies in the IT sector that is underperforming now. The previous swing high of this stock is at 1603 level. Experts have recommended the stock to ‘Buy’, citing the growth of the IT sector.
Furthermore, the technical analysts are expecting a rally of another Rs 100-130 on the stock. Ruchit Jain of 5paisa.com expects Infosys to move towards levels of Rs 1,600. Once the Infosys stocks given a weekly close above Rs 1,630 can propel the stock towards an all-time high of Rs 1,953.
Recently Infosys announced that it will expand its collaboration with Microsoft to accelerate enterprise cloud transformation. The collaboration will entail on-boarding Infosys Cobalt solutions to Microsoft’s industry clouds.
Golden Crossover Stocks NOCIL
Nocil (NOCIL) | CMP Rs 1511 | NOCIL Shares formed a golden cross over both in terms of exponential moving average (EMA) and daily moving average (DMA) at 222.5 level. This is one of the best companies in the specialty chemical sector that is underperforming now. The previous swing high of this stock is at 266 level. Experts have recommended the stock to ‘Buy’, citing the multiple growth factors for the chemical sector including China opening, the PLI scheme in India, etc.
The stock could rally towards its previous swing high of 266 level, once it closed above that it could move towards its all-time high of 315 level. The momentum indicator RSI (relative strength index) is currently trading above the 60 level, indicating a strong bullish sentiment in the stock.
NOCIL is the largest rubber chemicals manufacturer in India with State-of-the-Art Technology for the manufacture of rubber chemicals.
Golden Crossover Stocks KNRCON
KNR Constructions Limited (KNRCON) | CMP Rs 276 | KNRCON Share formed a golden cross over both in terms of exponential moving average (EMA) and daily moving average (DMA). This is one of the best companies in the field of Infrastructure sector. The stock has just crossed its previous swing high and consolidating at this level.
Experts have recommended the stock to ‘Buy’, citing the multiple growth factors such as Indian economic growth, government focus on infrastructure and strong financial performance of the company.
The stock could rally toward its previous high of 315 level or more. The momentum indicator RSI (relative strength index) is currently trading above the 60 level, indicating a strong bullish sentiment in the stock. In the weekly chart, the stock has formed a cup and handle pattern.
Golden Crossover Stocks SPIC
Southern Petrochemical Industries Corporation (SPIC) | CMP Rs 77 | is one of the leading fertilizer manufacturing companies in India. SPIC stock formed a golden cross over both in terms of daily moving average (DMA) at this level. This is one of the best companies in the field of fertilizer sector. The stock has just crossed its previous swing high at 74 level and consolidating at this level.
Experts have recommended the stock to ‘Buy’, citing the multiple growth factors such as Indian economic growth, government focus on farmers, PLI scheme, and strong financial performance of the company.
The stock could rally toward its previous high of 92 levels or more. The momentum indicator RSI (relative strength index) is currently trading above the 60 level, indicating a strong bullish sentiment in the stock.
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