September 20, 2024

stock market prediction today, Stock Market Prediction: To earn profit today you can bet on these stocks including Lloyds Steels, signs of boom are visible

January 16, 2023


New Delhi: The ups and downs in the stock market continues. The market saw a decline last week. However, on Friday, both the major indices recovered from their three-day losses and closed with gains due to heavy buying in metals and information technology stocks amid a firm trend in global markets. During this period, the BSE’s 30-share index Sensex rose by 303.15 points, or 0.51 percent, to reach 60,261.18 points. Although trading started with a decline, the Sensex gained momentum in the afternoon session and at one point it jumped up to 460.23 points. NSE’s index Nifty also closed at 17,956.60 points, up 98.40 points, or 0.55 percent. Among Sensex constituents, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services (TCS), ICICI Bank and Maruti Suzuki were among the gainers. On the other hand, shares of Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were major losers. In other Asian markets, the indices of Seoul, Shanghai and Hong Kong closed with gains, while the Tokyo market was in decline. European markets were also trading with gains. US stock markets also closed strongly on Thursday. Let us know which stocks can remain in trend today.

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There is a boom in these stocks

Momentum indicator moving average convergence divergence (MACD) is showing a bullish trend on Lloyds Steels, Ircon International, Federal Bank and Infosys. 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 Power Finance, KPIT Technologies, Usha Martin and TD Power Systems. 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 PNB Housing, Mahindra CIE, Archean Chemical Industries, Jindal Steel, CG Power and Industrial Solutions. These stocks have crossed their 52 week high. This indicates an uptrend in the stock.

There is selling pressure in these stocks

Stocks showing selling pressure include Bata India, Aarti Industries, Gland Pharma, Laurus Labs and Delhivery. 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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