New Delhi : Domestic stock markets rose for the second consecutive day on Tuesday. The market was supported by wide buying in the US and Asian markets. According to traders, capital inflows from foreign institutional investors also supported the uptrend. The 30-share BSE Sensex closed at 59,719.74, up 578.51 points, or 0.98 per cent, on Tuesday. At the same time, the Nifty of the National Stock Exchange also closed at 17,816.25, up 194 points, or 1.10 percent. On Tuesday, Sun Pharma, Dr Reddy’s, IndusInd Bank, Tata Steel, Titan, Bajaj Finserv, ICICI Bank and Asian Paints were the major gainers among the 30 Sensex stocks. Let us know which stocks can remain in trend today.
There is a rise in these stocks
Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Sun Pharma, Cochin Shipyard, Jubilant Pharmova, Cipla and Bajaj Finance. 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 indicates bearishness.
Signs of bearishness in these stocks
MACD has indicated bearishness in the shares of L&T Finance Holdings, Central Bank, Delta, DCW, Jubilant Foodworks and Sterlite Technologies. 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 Cipla, Eicher Motors, IndusInd Bank, Bharti Airtel, Adani Ports, Maruti Suzuki and ITC. 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 Mastek and Metropolis Health. 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.
