A Golden Crossover suggests a shift from a bearish to a bullish sentiment, indicating a potential trend reversal. The pattern also provides validation for a stock's positive momentum and can bolster investor confidence

ETMarkets has carefully selected 10 stocks from the 46 Nifty50 stocks reported by Trendlyne on Friday, August 1, that have witnessed this pattern formation

The ICICI Pru fund manager says: "For the long term, I still remain an investor into some of these stocks. However, one can choose tactically to remain underweight in the sector given that we are seeing some kind of slowdown here and also the rural recovery is not likely to happen so quickly as we think."

Discover the power of the Golden Crossover in assessing stock movements as ETMarkets handpicks 10 Nifty50 stocks that have witnessed this bullish pattern. Unravel the concept of the Golden Crossover and its importance in helping potential investors make informed decisions in the dynamic stock market.

Britannia's consolidated net profit rose 36% year-on-year (YoY) to Rs 458 crore for the quarter ended June 2023, missing estimates. It was Rs 337 crore in the year-ago quarter. An ET Now Poll saw the profit figure around Rs 518 crore. Revenue from operations during the first quarter rose 8% YoY to Rs 4,011 crore. The same stood at 3,701 crore in the last year period.

Smaller local players in India, such as Parle, Britannia and Hindustan Unilever, have entered the biscuit, tea, detergent, oil and snacking sectors, nibbling away at larger companies' market shares as the price of raw materials has lowered. During deflationary times, regional rivals give more value to consumers by offering extra grammage and are more nimble with product launches.

“As of now, the earnings season has been panning out pretty much in line with estimates. Financials continue to show fairly strong numbers, especially some of the private sector banks which have reported numbers so far. Overall, it is pretty much a good set of numbers. The IT sector has seen a muted set of numbers but that was again more or less in line with estimates.”

The NSE Nifty index closed 165.5 points down at 19331.8

Investors are urged not to be disappointed by the fact that Nifty has failed to breach its all-time high of 18,887 just yet, as the index has still gained over 7.5% in Q1. The India VIX remains subdued at around 11, although at current levels investors will likely be choosy over their stock selections. Financial stocks have a 38% weightage in Nifty and a rally in banking stocks will be crucial for any future Nifty gains, however, recent profit-taking and concerns over renewed rate hikes are having a negative impact

Although ad spends were lower in actual terms, they remained steady as a percentage of revenue. But companies are slowly ramping up ad spends to pre-COVID levels and FY 24 is expected to see a jump.

The NSE Nifty index was trading 135.65 points up at 19491.55

“After a long hibernation, pharma has come out of its orbit. Probably, there is a lot more upside. There is some bit of valuation comfort still in pharma, which has reached near fair valuation but it is still nowhere like the premium valuation it used to command during the Covid times.”

Fast-moving consumer goods (FMCG) firms that reduced pack sizes last year in an attempt to absorb rising costs are putting back grammage as input prices fall. The price of refined sunflower oil, palmolien and soya bean oil have all dropped around 20%-25% over the past 12 months, while packaging costs have similarly declined. Brands that had shrunk packages without reducing prices are putting back weight, particularly for the most popular price points of INR10, INR20 and INR25, and some personal care product companies are using extra grammage as part of consumer promotions.

The Golden Crossover is a key technical pattern that occurs when a stock's short-term moving average crosses above its long-term moving average. The most commonly used moving averages in this context are the 50-day simple moving average (SMA) and the 200-day SMA. When the 50-day SMA crosses above the 200-day SMA, it forms the Golden Crossover. This pattern is considered bullish as it suggests a potential upward trend in the stock's price.

"There is an apprehension that sales may be impacted with slower recovery in rural areas than expected," said Nirvi Ashar, fundamental research analyst at Religare Broking. The company is scheduled to announce its first-quarter results on August 4.

The NSE Nifty index closed 126.2 points up at 18817.4

Lower raw material costs and the subsequent price cuts in select segments have helped FMCG companies expand volumes and margins

Parle-G, the iconic biscuit brand in India, has remained popular with the masses for decades. It has been a symbol of India's large consuming class, including the poor population. During the COVID-19 lockdowns, Parle-G became a relief food for migrants and donated millions of packs to the needy. Despite challenges like higher taxes and rising inflation, Parle-G continues to dominate the biscuit market and has expanded into premium products.

Net Sales are expected to increase by 13 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs 4,182.1 crore, according to Nirmal Bang.

This article sheds light on the significance of the Golden Crossover and its relevance in assessing stock movements. With data from Trendlyne reporting over 40 Nifty50 stocks experiencing this pattern on August 16, Wednesday, and ETMarkets selecting 10 stocks, discover how this pattern can shape informed investment choices.

Rane(Madras), Prime Focus, Rane Brake Lin, FACT and V-Marc India, hit their fresh 52-week highs during the day.

The S&P BSE FMCG index witnessed a remarkable surge today as several stocks hit new 52-week highs, reflecting the strength of the FMCG (Fast-Moving Consumer Goods) sector in the Indian market.

The brokerage house has reduced its weight in certain consumer sectors and trimmed positions in banking stocks

#BRITANNIA : The momentum is very good in it, Every dip looks like a good buy till 4300. I think it may take couple of months maximum to rea