This defence stock, 2 smallcaps flag bullish signal on charts; details here

Technical alert: Defence stock GRSE, 2 other smallcaps - HEG and Ujjivan SFB witness formation of 'Golden Cross' on the daily charts. Here's why this is a bullish sign.

Three smallcap stocks have flagged a fresh bullish signal with the formation of 'Golden Cross' on the daily technical charts. Defence stock - Garden Reach Shipbuilders & Enginers (GRSE) is among these 3 smallcap stocks.  Technically, the term 'Golden Cross' implies that the 50-Day Moving Average (50-DMA) of the particular index or stock has now risen above the 200-DMA. This development has bullish (positive) implications on the index or stock as the short-term moving average, which now quotes above the long-term average, acts as a near-term support.  Here's a technical outlook on GRSE, and the other 2 smallcap stocks - HEG and Ujjivan Small Finance Bank (SFB) which have witnessed the formation of 'Golden Cross' pattern on charts.  GRSE  Current Price: ₹2,442  Upside Potential: 22.9%  Support: ₹2,385; ₹2,250  Resistance: ₹2,580; ₹2,660; ₹2,800  GRSE stock has seen the formation of 'Golden Cross' pattern after more than 4 months. Technical chart shows that the near-term bias for the stock is likely to remain upbeat as long as the stock holds above ₹2,385; below which key support for the stock stands at ₹2,250. CLICK HERE FOR THE CHART  On the upside, the stock can potentially rally towards ₹3,000-mark, with interim resistance likely around ₹2,580, ₹2,660 and ₹2,800 levels.  ALSO READ | Markets have more steam left; Sensex eyes this target in next few days  HEG  Current Price: ₹535  Upside Potential: 19.6%  Support: ₹516; ₹490  Resistance: ₹560; ₹585; ₹615  HEG witnessed formation of 'Golden Cross' on May 14; since then the stock has surged nearly 13 per cent in the last three trading sessions. Technically, the stock is expected to trade on a buoyant note as long as it holds above ₹516 levels. CLICK HERE FOR THE CHART  On the upside, the stock can potentially zoom to ₹640 levels, with interim resistance likely around ₹560, ₹585 and ₹615 levels. The short-term bias is expected to remain favourable as long as the stock trades above ₹490.  ALSO READ | Are railway stocks ready for a BIG rally? RVNL, IRCTC in focus; here's why  Ujjivan SFB  Current Price: ₹44.78  Upside Potential: 19.5%  Support: ₹43.36; ₹41.80  Resistance: ₹46; ₹48.70; ₹52.40  Ujjivan SFB has seen the formation of 'Golden Cross' on the daily chart after 13 months. The price-to-moving averages action is also favourable for the stock; thus indicating a likely positive bias in the near-term. Technical chart shows that the near-term bias is likely to remain positive as long as the stock trades above ₹43.36; below which the key support for the stock stands at 41.80.  On the upside, the stock can potentially surge to ₹53.50 levels. Intermediate resistance for the stock can be expected around ₹46, ₹48.70 and ₹52.40 levels. CLICK HERE FOR THE CHART