Golden Crossovers: These 4 stocks signal bullishness on May 22
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Bullish Signals
In the Nifty500 pack, four stocks are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on May 21.
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City Union Bank
CMP: Rs 197.08 | 50-Day SMA: Rs 169.9 | 200-Day SMA: Rs 169.17
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FSN E-Commerce Ventures
CMP: Rs 200.48 | 50-Day SMA: Rs 182.89 | 200-Day SMA: Rs 182.26
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Axis Bank
CMP: Rs 1197.8 | 50-Day SMA: Rs 1124.07 | 200-Day SMA: Rs 1120.64
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Indus Towers
CMP: Rs 387.95 | 50-Day SMA: Rs 369.24 | 200-Day SMA: Rs 369.16