If D-Street begins next leg of rally, these 50 stocks could lead it - News Summed Up

If D-Street begins next leg of rally, these 50 stocks could lead it


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 on the charts, indicating that the price of the security may experience an upward movement, and vice versa.However, MACD alone may not be sufficient to help take an investment call. They included Bhushan Steel , CESC, Uflex, Swan Energy, Avanti Feeds and Ramky Infrastructure.On Monday, the 50-share Nifty index settled 194 points, or 1.90 per cent, higher from its previous close at 10,421.“Looking at Monday’s smart bounce back, we may extend the relief rally towards 10,460-10,500 levels. But our directional view remains unchanged. We advise traders not to participate aggressively in this move and rather lighten up long positions at higher levels,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.“For the next couple of days, a stock-specific approach is recommended. However, one needs to be careful while picking up a stock and should ideally trade with a proper exit strategy,” said Chavan.A close look at the chart of Maruti Suzuki shows whenever the MACD line has crossed above the signal line, the stock has mostly shown an upward momentum and vice versa.Shares of the company closed 1.69 per cent higher at Rs 8,811 on March 12.


Source: Economic Times March 13, 2018 05:13 UTC


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