The MACD showed bearish signs on the counters of Ircon International, Zee Media, NLC and Lupin, Cipla and Astral among others. Bearish crossover on the MACD on these counters indicated that they have just begun their downward journey.
Indian equities closed in the red on Friday amid mixed quarterly results, a reversal of FII activity, a rising dollar index, and an increase in crude oil prices, despite gains in some broader markets. Sensex fell to 66,160, while Nifty closed marginally lower at 19,646, with both indices down by 0.8% and 0.5% for the week
Major June quarter earnings are lined up for this week. Tata Steel, Bajaj Auto, Asian Paints, SBI Life Insurance Company, Tata Motors, Larsen & Toubro, Tata Consumer Products, Bajaj Finance, Tech Mahindra, Dr Reddy s Laboratories, Cipla, Axis Bank, Nestle India, Bajaj Finserv, among others will declare their Q1 earnings.