Axis Bank, Bajaj Auto among Nifty 5 stocks with golden crossover pattern

In the fast-paced world of stock trading, investors are perpetually seeking patterns and indicators that can guide them toward profitable opportunities. One such indicator that has garnered significant attention is the "Golden Crossover." In this article, we will delve into what the Golden Crossover represents and why it holds relevance for investors, while also highlighting five Nifty stocks that have recently demonstrated this pattern.

The Golden Crossover is a technical chart pattern that materializes when a short-term moving average crosses above a long-term moving average. It's typically considered a bullish signal for the stock. Specifically, when the 50-day Simple Moving Average (SMA) surpasses the 200-day SMA, it forms the Golden Crossover.

On October 27, Friday, Trendlyne reported that over 40 Nifty stocks have witnessed the Golden Crossover, indicating a potential uptrend in their prices. ETMarkets has handpicked five stocks from this list for a closer look at their performance:

1) Axis Bank Ltd.

50-Day SMA: 992.7
200-Day SMA: 929.3


2) Bajaj Auto Ltd.

50-Day SMA: 4918.6

200-Day SMA: 4432.7


3) Bajaj Finance Ltd.

50-Day SMA: 7549.5

200-Day SMA: 6787.8


4) Bajaj Finserv Ltd.

50-Day SMA: 1550.4

200-Day SMA: 1454.5


5) Bharti Airtel Ltd.

50-Day SMA: 904.5

200-Day SMA: 831.3

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(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)