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