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Nifty Auto sees Golden Cross, 5 stocks with similar patterns; how to trade?
Rex Cano Mumbai
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The Nifty Auto index has witnessed the formation of 'Golden Cross' on the daily chart after a gap of more than six months. Technically, 'Golden Cross' is considered as a bullish signal, with further upside potential. The term 'Golden Cross' also commonly referred as 'Golden Crossover' means that the 50-Day Moving Average (50-DMA), has now crossed the 200-DMA from below. This suggests that the support levels for the index are moving higher. Apart from the Nifty Auto index, there are 5 auto stocks which witnessed a similar development on the daily charts in recent months. Mahindra
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