Adani Ports, Axis Bank among 5 Nifty stocks with Golden Crossover pattern
Golden Crossover is and why it's an essential factor to consider when assessing stock movements. We will also spotlight five stocks that have recently experienced this pattern, offering investors a more informed perspective.
The Golden Crossover is a critical indicator in technical analysis.
It occurs when a shorter-term moving average of a stock's price crosses above a longer-term moving average. The most commonly used moving averages are the 50-day and 200-day moving averages.
This pattern signifies a potential shift in market sentiment, often indicating a bullish phase for the stock.
Exploring Stocks with the Golden Crossover:
On October 25, Wednesday, Trendlyne reported that over 40 Nifty stocks have experienced the Golden Crossover. From this extensive list, we have selected five stocks that have undergone this pattern:
1) Adani Enterprises Ltd.
50-Day SMA: 2486.4
200-Day SMA: 2333
2) Adani Ports & Special Economic Zone Ltd.
50-Day SMA: 818.4
200-Day SMA: 725
3) Apollo Hospitals Enterprise Ltd.
50-Day SMA: 4986.3
200-Day SMA: 4720.2
4) Asian Paints Ltd.
50-Day SMA: 3204.9
200-Day SMA: 3079.1
5) Axis Bank Ltd.
50-Day SMA: 991.7
200-Day SMA: 929.2
Please note that the current market price of each stock may not reflect the exact closing price, as updates on Trendlyne may come with a lag.
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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)
