Adani Ports, Asian Paints among 10 Nifty stocks with golden crossover pattern

economictimes.indiatimes.com:

Golden Crossover is, its significance in assessing stock movements, and explore ten stocks that have recently witnessed this auspicious pattern. As the market evolves, understanding such patterns can provide investors with valuable insights for their decision-making process. The Golden Crossover is a technical pattern that occurs when a shorter-term moving average crosses above a longer-term moving average.

Specifically, it happens when the 50-day Simple Moving Average (SMA) crosses above the 200-day SMA. This event is considered a bullish signal, as it indicates that the stock's recent price performance is gaining strength relative to its longer-term performance. The Golden Crossover is often seen as a potential indicator of a shift in momentum, hinting at a possible uptrend in the stock's price.

On August 11, Friday, Trendlyne reported an intriguing trend — more than 40 Nifty50 stocks witnessed the formation of the Golden Crossover. ETMarkets has singled out ten stocks from this group that are worth exploring. These stocks have experienced the Golden Crossover, indicating a potential shift in their price momentum.

Here are the stocks along with their 50-day and 200-day SMAs: 1) Adani Ports & Special Economic Zone Ltd. — 50Day SMA: 744.2, 200Day SMA: 735.8 2) Apollo Hospitals Enterprise Ltd. — 50Day SMA: 5093.9, 200Day SMA: 4620.8 3) Asian Paints Ltd.

— 50Day SMA: 3342.1, 200Day SMA: 3057.2 4) Axis Bank Ltd. — 50Day SMA: 963.3, 200Day SMA: 906.5 5) Bajaj Auto Ltd. — 50Day SMA: 4764.2, 200Day SMA: 4112.5 6) Bajaj Finance Ltd.

— 50Day SMA: 7290.6, 200Day SMA: 6595.6 7) Bajaj Finserv Ltd. — 50Day SMA: 1547.7, 200Day SMA: 1476.6 8) Bharat Petroleum Corporation Ltd. — 50Day SMA: 373.6, 200Day SMA: 345.7 9) Bharti Airtel Ltd.