there may be a boom in many stocks including HDFC Bank and NTPC
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On the other hand, Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were in the red. In other Asian markets, Kospi of South Korea, Nikkei of Japan, Shanghai Composite of China and Hangseng of Hong Kong closed with gains.
Europe’s markets were also trading with gains in the beginning. Most of the markets in the US closed on a positive note on the previous trading day on Friday.
According to a survey released on Friday, manufacturing activities in India picked up pace in the month of August. Apart from this, the Goods and Services Tax (GST) collection in August also increased by 11 percent to over Rs 1.59 lakh crore due to lack of better compliance. Meanwhile, foreign institutional investors have started investing in the Indian market again. According to data from the stock market, foreign investors made net purchases worth Rs 487.94 crore on Friday.
There is a boom in these stocks
The Momentum Indicator Moving Average Convergence Divergence (MACD) is showing a bullish trend on Central Bank, UCO Bank, NTPC, Wipro and HDFC Bank. 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
The MACD has indicated bearish on Jain Irrigation, Berger Paints, Usha Martin, DB Realty and Trent. This means that now these stocks have started to decline.
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Buying visible in these stocks
The stocks which are seeing strong buying include MMTC, IRFC, RVNL, Nazara Technologies and Bank of Maharashtra. 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 CMI, Atam Valves, Penta Gold, Sanco Industries and Allcargo Terminals. 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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