To earn profit, you can bet on these stocks including IDBI Bank, signs of boom are visible
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On the other hand, Infosys, JSW Steel, NTPC and PowerGrid were among the gainers. In other Asian markets, Kospi of South Korea, Nikkei of Japan and Hangseng of Hong Kong were in loss while China’s Shanghai Composite was in profit. European markets were in losses in early trade. The US market was in losses on Wednesday after Fitch Ratings downgraded the credit rating of the US government.
Foreign institutional investors sold shares worth Rs 1,877.84 crore on Wednesday, according to stock market data. Global oil benchmark Brent crude was down 0.46 per cent at $82.82 per barrel. On Wednesday, the BSE Sensex closed at 65,782.78, down 676.53 points, or 1.02 percent, and the Nifty closed at 19,526.55, down 207 points, or 1.05 percent.
There is a boom in these stocks
Momentum indicator moving average convergence divergence (MACD) is showing a bullish trend on Laurus Labs, Balaji Amines, Shoppers Stop, Indian Hotels and Meghmani Finechem. 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 signals bearish on Triveni Engineering, CE Infosystems, KEC International, CSB Bank and Shyam Metalics. This means that now these stocks have started to decline.
Foreign investors buying heavily in the Indian market, have made a bumper investment of Rs 45,365 crore so far in July
Buying visible in these stocks
The stocks which are seeing strong buying include IRFC, Indiabulls Housing, FDC, Poonawalla Fincorp and IDBI Bank. The stock has crossed its 52-week high. This indicates an uptrend in the stock.
There is selling pressure in these stocks
The stocks which are seeing selling pressure include UPL and VIP Industries. 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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