Investors are scared due to depreciation of rupee against dollar and frequent capital outflows

New Delhi : The trend of decline in the domestic stock markets continued for the sixth consecutive trading session on Wednesday. On Wednesday, the BSE Sensex closed below the 57,000 mark, down more than 509 points. Markets remained in losses due to selling in metal, banking and financial stocks amid a weak trend in global markets. Talking about the Nifty of the National Stock Exchange, it closed at 16,858.60, down 148.80 points, or 0.87 per cent. According to traders, the depreciation of the rupee against the dollar and frequent capital outflows also affected the market sentiment. Let us know which stocks can be trending in the market today.

There is a rise in these stocks
The Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on HCL Technologies, Asian Paints, Lupine, Khadim India and Silly Monks. MACD is known to signal a trend reversal in the traded securities or index. When the MACD crosses the signal line, it gives a bullish signal, indicating that the stock price may see an upward move. Similarly, it also gives a bearish signal.

Signs of bearishness in these stocks
MACD has indicated bearishness in Jai Corp, United Spirits, CG Power, Oriental Hotels and Saksoft shares. This means that now these stocks have started declining.
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Buying visible in these shares
The stocks which are seeing strong buying include Gujarat Fluorochem, Tejas Networks and Cipla. These stocks have crossed their 52-week high. This indicates a rise in these stocks.

There is selling pressure in these stocks
Stocks showing selling pressure include Motherson Sumi, Oil India, NALCO, Piramal Enterprises, IOC and LIC. There is a lot of selling in these shares. These stocks have hit a 52-week low. This is a bearish sign for these stocks.