11 ETFs Near Golden Crossover; Check If You Hold Any
Midcap 150, Next 50 and Alpha-based ETFs ended higher despite weak market sentiment, with investors tracking potential bullish signals from the 50-day and 200-day SMA crossover.
✨ Key Takeaways
On Friday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 0.18 per cent to close at 23,375.55. Despite the weakness in the broader market, several exchange-traded funds (ETFs) ended the session in positive territory. Market participants continued to monitor these ETFs for potential Golden Crossover formations, a technical indicator that occurs when the 50-day Simple Moving Average (SMA) crosses above the 200-day SMA, often viewed as a sign of strengthening long-term momentum.
What Is A Golden Crossover?
A Golden Crossover occurs when the short-term 50-day SMA moves above the long-term 200-day SMA. Technical analysts often view this pattern as a bullish signal because it may indicate that medium-term momentum is strengthening relative to the longer-term trend.
While technical indicators should not be used in isolation, many traders and investors track Golden Crossovers to identify potential trend reversals and improving market sentiment.
ETFs In Focus
Among the ETFs trading below Rs 100, Kotak Nifty Midcap 150 ETF emerged as the top gainer, rising 1.24 per cent to close at Rs 22.89. HDFC Nifty Midcap 150 ETF gained 0.62 per cent to Rs 22.69, while HDFC Nifty Next 50 ETF advanced 0.62 per cent to Rs 71.85.
Mirae Asset Nifty Midcap 150 ETF climbed 0.44 per cent to Rs 22.90, and ICICI Prudential Nifty Midcap 150 ETF added 0.43 per cent to close at Rs 23.20. Among factor-based products, Kotak Nifty Alpha 50 ETF rose 0.12 per cent to Rs 50.42.
Consolidated ETF Table
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Passive Investing Continues To Grow
The ETF segment has witnessed increasing participation from retail and institutional investors due to its diversification benefits, transparency and lower costs. As investors continue to combine passive investing with technical analysis, ETFs approaching key moving-average crossover levels are likely to remain on market participants' radar in the coming weeks.
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Add NowDisclaimer: The article is for informational purposes only and not investment advice.
