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Nifty traded in a tight range of 111 points to end below the 15,700 level. It formed a small bearish candle on the daily chart with a long lower wick, indicating buying at lower levels. Analysts said the index was showing lack of strength at higher levels with some indicators sending overbought signals. Will the Nifty gain strength this week and move towards the 15,800-15,900 zone?
Tata Steel, Asian Paints among 21 stocks sending out weak signals on MACD charts
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Data showed 21 stocks are showing bearish trends. They included Tata Steel, Biocon, Asian Paints, Dr Lal Pathlabs, Hindustan Unilever, Britannia Industries, Nestle India and Shree Cement.
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Take Solutions, Inox Wind, Advanced Enzyme, Whirlpool of India, Heritage Foods, Insecticides, TVS Srichakra and Lovable Lingerie are some other stocks, which look strong on the MACD indicator. These stocks went up to 18 per cent higher so far.
NEW DELHI: Even as a host of largecaps including Hindustan Unilever, Asian Paints, Tata Steel and Nestle India are showing signs of weakness, over two dozen small and midcap stocks are looking strong on momentum oscillator MACD or moving average convergence divergence.
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