Shares of SAIL, Jain Irrigation and Hindalco may see a boom today.
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Tata Steel was the top gainer among Sensex stocks with a gain of nearly two per cent. Besides, Maruti, Mahindra & Mahindra, Sun Pharma, Larsen & Toubro, Titan, Bharti Airtel, Power Grid, ITC, State Bank of India and Nestle were major gainers. In contrast, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, IndusInd Bank, Tech Mahindra, Reliance Industries and Bajaj Finance were among the losers.
The BSE Midcap index was up 0.60 per cent and the Smallcap index was up 0.57 per cent. In other markets in Asia, South Korea’s Cospi, Japan’s Nikkei, China’s Shanghai Composite Index and Hong Kong’s Hangseng were in profit. There was a bullish trend in early trade in major markets of Europe. US markets were in gains on Thursday. Let us know which stocks can remain in trend today.
There is a boom in these stocks
Momentum Indicator Moving Average Convergence Divergence (MACD) is showing a bullish trend on Tata Steel, UCO Bank, SAIL, Jain Irrigation and Hindalco. MACD is known to signal trend reversals in traded securities or indices. When the MACD crosses the signal line, it indicates a bullish trend. This indicates that an upward movement can be seen in the share price. Similarly, it also indicates recession.
Signs of recession in these stocks
MACD has indicated bearishness in the shares of Engineers India, Gujarat Gas, Mahanagar Gas and Capri Global. This means that now these stocks have started to decline.
Buying visible in these stocks
The stocks which are seeing strong buying include Cyient, Star Cement, Minda Corporation, Mankind Pharma and HUDCO. The stock has crossed its 52-week high. This indicates an uptrend in the stock.
There is selling pressure in these stocks
Stocks showing selling pressure included Future Enterprises, De Neers Tools, Sheetal Cool, SITI Networks and GSS Infotech. There is a lot of selling in these stocks. These stocks have registered a 52-week low. This is a bearish signal for these stocks.
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