Axis Bank, Britannia Industries among 10 Nifty50 stocks with Golden Crossover pattern. Know what it signifies?

As investors seek to maximise their returns in the stock market, keeping a close eye on technical indicators can provide valuable insights for decision-making. One such powerful indicator is the Golden Crossover, a pattern that indicates a potential bullish trend in a stock's price movement. On July 18, Friday, Trendlyne reported that 45 stocks in the Nifty50 have witnessed a Golden Crossover.From this group, ETMarkets, a leading financial news portal, handpicked ten stocks that have experienced the formation of this pattern. In this article, we explore what the Golden Crossover is, its significance in assessing stock movement, and analyze the ten selected stocks, providing valuable insights for potential investors.

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.

Here are the ten selected stocks along with their 50-day SMA and 200-day SMA values:

1) Apollo Hospitals Enterprise Ltd. - 50Day SMA Rs: 4911.3, 200Day SMA Rs: 4555.2

2) Asian Paints Ltd. - 50Day SMA Rs: 3247.7, 200Day SMA Rs: 3049.4

3) Axis Bank Ltd. - 50Day SMA Rs: 949, 200Day SMA Rs: 890.8

4) Bajaj Auto Ltd. - 50Day SMA Rs: 4676.9, 200Day SMA Rs: 4008.3

5) Bajaj Finance Ltd. - 50Day SMA Rs: 7105.2, 200Day SMA Rs: 6592.4

6) Bajaj Finserv Ltd. - 50Day SMA Rs: 1497.5, 200Day SMA Rs: 1486.2

7) Bharat Petroleum Corporation Ltd. - 50Day SMA Rs: 369.8, 200Day SMA Rs: 339.6

8) Bharti Airtel Ltd. - 50Day SMA Rs: 838, 200Day SMA Rs: 803

9) Britannia Industries Ltd. - 50Day SMA Rs: 4841.3, 200Day SMA Rs: 4403

10) Coal India Ltd. - 50Day SMA Rs: 233.1, 200Day SMA Rs: 227.7

The current data of each stock may not reflect the exact Live updates as updates on Trendlyne may come with a lag.

(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)