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The Nifty Midcap stocks that scaled new heights on September 5, 2023, highlight their capacity to thrive in the stock market.

The Golden Crossover serves as an essential trend reversal indicator. It suggests that a stock, which may have been underperforming or experiencing a downtrend, is now showing signs of a potential uptrend.

Indian frontline indices ended with gains on Tuesday, extending their winning streak to the third session in a row.

"In the small and midcap space, we have seen very sharp run-ups especially in anything related to capital goods, defence and railways. We are more concerned around mid and smallcaps compared to the largecap space. We are seeing greater value and greater comfort in largecaps. That is broadly the way we are seeing the market."

The Nifty Pharma index closed 1.1 per cent up at 15218.25.

“China is going to be slower for longer in terms of GDP growth. So if you ask me, in overall macro, the big story is China. It is probably negative for India to some extent, but it is a positive to a large extent also. How India navigates the vacuum of China will probably determine how well we do on a five-year basis.”

​We have seen them. More upside can be seen in this particular counter, which might take a stock towards 2300 level as well because all the important technical parameters are really doing very well.

“There is more interest from banks to lend to companies which are in the mid-size category like ours. Earlier, a lot of those funds would probably get directed towards larger companies like HDFC. We are seeing early signs of that and that is good for companies as well rated like ours and which are growing at this stage.”

In fact, during this current fiscal year, 7 stocks within the textile sector have not only doubled but also significantly increased the investors’ wealth in just 5 months.

As per the shareholding data available with the exchanges, a 52.28% stake in the firm is held by the promoter and promoter group, while the rest lies with the public as of June 30, 2023.