In the Nifty 500 pack, six stocks are witnessing Golden Crossovers, according to stockedge.com’s technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when a short-term moving average crosses over a major long-term moving average on the upside. These stocks’ 50-day simple moving averages (SMA) crossed their 200-day SMAs on September 16. Take a look:
Deepak Nitrite shares sink 13% as Q3 profit halves, margin pressures mount
Deepak Nitrite share price: Shares of Deepak Nitrite fell 15% to a 52-week low after the company reported a 51.5% year-on-year decline in Q3 net