Two pharmaceutical stocks witness golden cross; take a look!

A ‘golden cross’ is a very well-known and one of the most popular strategies used by the traders’ community. It’s very simple and easy to spot on the charts.   

Let’s know what a golden cross is. A golden cross occurs when the fast-moving average crosses a slower moving average upward.   

We have taken into consideration the 50 and 200-DMA for reference in this strategy, where the 50-DMA is considered as a fast-moving average, the 200-DMA considered a slow-moving average. Whenever a golden cross occurs, it indicates that the security is in a bullish trend.   

Three stocks have witnessed a golden cross from Nifty 500 index: Dish TV, FDC & Torrent Pharmaceuticals. Interestingly, two stocks out of three are from the pharmaceutical sector.   

Dish TV: The stock is trading at Rs 15.20 while the 50-DMA of the stock stands at Rs 12.17 and the 200-DMA stands at Rs 12.13.   

FDC: The stock of FDC is up by over 10 per cent at Rs 374.15 with a massive surge in volumes. Moreover, the stock has registered a fresh all-time high. The 50-DMA of the stock stands at Rs 323.57 while the 200-DMA stands at Rs 322.26.   

Torrent Pharmaceuticals: The stock of Torrent Pharmaceuticals is up by nearly 3 per cent at Rs 2,967.40. Along with this, the stock has recorded the highest volume in the past 17 trading sessions. The 50-DMA of the stock stands at Rs 2,663.99 while the 200-DMA stands at Rs 2,622.13.