The Indian stock market closed with a fall for the fourth consecutive trading session on Wednesday. The 30-share Sensex of BSE closed at 54,088.39, down 276.46 points, or 0.51 percent, after losing early gains. This fall in the Sensex was seen due to heavy selling in the shares of giants Reliance Industries (RIL) and Infosys. Apart from this, foreign institutional investors (FIIs) continued to be sellers and the rise in crude oil also affected the trading sentiment negatively. Similarly, the Nifty of the National Stock Exchange (NSE) closed at 16,167.10, down 72.95 points, or 0.45 percent, on Wednesday. Let us know which stocks can be trending in the market today.
There is a rise in these stocks
Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Indus Towers, Nila Spaces, Kavveri Telecom and Sintercom India. 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.
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Signs of bearishness in these stocks
MACD has indicated bearish sentiment in Mangalore Refineries, Ruchi Soya, Tata Chemicals, Shriram Transport, TARC, Shanthi Gears, SMC Global Securities and Paisalo Digital. This means that now these stocks have started declining.
Buying visible in these shares
Today, there is no sign of good buying in any stock in the market.
There is selling pressure in these stocks
Stocks showing selling pressure include Indiabulls Housing Finance, Welspun India, Infibeam Avenues, Nazara Technologies, Indo Count Industries, ITI and Indiabulls Real Estate. 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.