Today there can be a big jump in these stocks including IDBI Bank, all signs of boom are visible
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In highly volatile trade, the 30-share BSE Sensex closed 68.36 points, or 0.10 per cent, lower at 66,459.31. At one time during the trading, it also came at the upper level of 66,658.12 points and at the lower level of 66,388.26 points.
The National Stock Exchange (NSE) index Nifty also closed at 19,733.55 points, down 20.25 points, or 0.10 percent.
Among the companies included in the Sensex, POWERGRID recorded the maximum decline of five per cent. PowerGrid on Monday reported an over five per cent fall in consolidated net profit for the April-June quarter.
Apart from this, shares of Bajaj Finserv, IndusInd Bank, State Bank of India, Reliance Industries, Maruti, Asian Paints, Larsen & Toubro and Bajaj Finance also closed with losses.
On the other hand, NTPC, Tech Mahindra, HCL Technologies, Mahindra & Mahindra, Axis Bank, Tata Consultancy Services, Infosys and JSW Steel were in the green. The BSE Midcap index fell 0.23 per cent while the Smallcap index was up 0.50 per cent.
In other Asian markets, South Korea’s Cospi and Japan’s Nikke were in profit, while China’s Shanghai Composite and Hong Kong’s Hangseng were in losses. Europe’s markets were trading with a fall. A bullish trend was seen in the US markets on Monday.
There is a boom in these stocks
Momentum Indicator Moving Average Convergence Divergence (MACD) is showing a bullish trend on IDBI Bank, Urja Global, Coal India, Lemon Tree Hotels and HFCL. 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 given a bearish signal for GMDC, Piramal Enterprises, Tanla Platforms, EPL and Mazagon Dock Shipbuilders. This means that now these stocks have started to decline.
Investors broke down to buy shares of this company as soon as big orders were received from the government, there was a bumper jump in the stock
Buying visible in these stocks
The stocks which are seeing strong buying include KIOCL, IDBI Bank, Railtel and IRFC. 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, MOS Utility, Viji Finance, SREI Infra and Jalan Transsolutions. 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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