ITC, SBI, ICICI Bank among 35 stocks that look set to take a tumble, shows MACD
NEW DELHI:
Even as Dalal Street witnessed severe selling pressure on Friday, its worst rout in more than two years, momentum indicator moving average convergence divergence, or MACD, signalled bearish crossovers for 35 stocks on the National Stock Exchange (NSE).
Among the counters that saw bearish crossovers in Friday's session were ITCBSE 0.29 %, State Bank of IndiaBSE -0.94 %, ICICI BankBSE -1.76 %, Dwarikesh Sugar, Nitco, Noida Toll Bridge, TCI Finance, Bliss GVS Pharma, Majesco, Ashiana Housing and CCL Products.
Some of these counters also witnessed strong trading volumes, adding further credibility to the emerging trend.
Other stocks that witnessed bearish crossovers included Godrej Consumer, Shah Alloys, Shemaroo Entertainment, Vaibhav Global and Suven Life Sciences.
MACD is a trend-following momentum indicator and is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the 'signal' line, is plotted on top of the MACD to reflect 'buy' or 'sell' opportunities.
MACD is a trend-following momentum indicator and is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the 'signal' line, is plotted on top of the MACD to reflect 'buy' or 'sell' opportunities.
When the MACD slips below the signal line, it gives a bearish signal on the charts, indicating that the price of the security may experience a downward movement, and vice-versa.
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Missed call @8817002233
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Even as Dalal Street witnessed severe selling pressure on Friday, its worst rout in more than two years, momentum indicator moving average convergence divergence, or MACD, signalled bearish crossovers for 35 stocks on the National Stock Exchange (NSE).
Among the counters that saw bearish crossovers in Friday's session were ITCBSE 0.29 %, State Bank of IndiaBSE -0.94 %, ICICI BankBSE -1.76 %, Dwarikesh Sugar, Nitco, Noida Toll Bridge, TCI Finance, Bliss GVS Pharma, Majesco, Ashiana Housing and CCL Products.
Some of these counters also witnessed strong trading volumes, adding further credibility to the emerging trend.
Other stocks that witnessed bearish crossovers included Godrej Consumer, Shah Alloys, Shemaroo Entertainment, Vaibhav Global and Suven Life Sciences.
MACD is a trend-following momentum indicator and is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the 'signal' line, is plotted on top of the MACD to reflect 'buy' or 'sell' opportunities.
MACD is a trend-following momentum indicator and is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the 'signal' line, is plotted on top of the MACD to reflect 'buy' or 'sell' opportunities.
When the MACD slips below the signal line, it gives a bearish signal on the charts, indicating that the price of the security may experience a downward movement, and vice-versa.
To Get Free Trial
Missed call @8817002233
Mail Us = starindiamarket@gmail.com
visit = http://www.starindiaresearch.com
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