NEW DELHI: Domestic stocks shrugged off weakness in global markets on Tuesday, ahead of key earnings and expiry of January series futures & options contracts. Hopes that Finance Minister Nirmala Sitharaman will strike a balance between industry demands and fiscal math in Budget 2020 this Saturday boosted sentiment. This caused at least 26 stocks on NSE to show strong momentum on technical charts, as per the moving average convergence divergence or MACD. The momentum indicator formed bullish crossovers on these counters, hinting at possible upsides. Strong trading volumes on many of these counters lent credence to the emerging trend. The list included Indiabulls Housing, Axis Bank, REC, HPCL, Karnataka Bank, Tech Mahindra, SBI Life, Affle India, JSW Energy, Balmer & Lawrie and Shilpa Medicare. The MACD is known for signalling trend reversals in traded securities or indices. It 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 crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa. Data… Read full this story
- Buy Axis Bank; target of Rs 975: Prabhudas Lilladher
- Buy Axis Bank, target price Rs 785: Kotak Securities
- Stocks in the news: NTPC, Tata Steel, HDFC, Tata Motors, CEAT and telcos
- HDFC Bank, ICICI, Axis are HSBC's top financial bets
- Firm credit growth bodes well for Bank Nifty, but don’t go gung-ho yet: Analysts
- India's big banks score poorly on climate challenge
- Trade setup: Defensive counters to see traction; time to avoid chasing high-beta stocks
- Tough times for smaller banks as trend of large becoming larger to continue in financial space: Nitin Raheja
- Contra view? Team Prashant Jain dips into purse to buy relatively smaller banking stocks
- JK Paper Share Price | PCBL Share Price: Time to bet on structural businesses? 2 stocks Vikas Khemani added recently
Axis Bank, REC, HPCL among 26 stocks ready to rise, shows MACD have 317 words, post on economictimes.indiatimes.com at January 28, 2020. This is cached page on Vietnam Dance. If you want remove this page, please contact us.