Tuesday Market Update : buy these stocks now

The local stock market fell marginally on Monday in volatile trade. Markets had initially fallen significantly after US investment and research firm Hindenburg Research reported on undisclosed foreign fund investments against SEBI chief  Madhabi Puri Buch and her husband. But later the market was able to offset the losses due to the gains of private banks. Initially, the 30-share Sensex witnessed a steep decline. However, it later closed marginally lower by 56.99 points or 0.07 percent at 79,648.92 points. 18 companies in the Sensex posted losses and 12 companies posted gains. The National Stock Exchange (NSE) Nifty also closed down 20.50 points, or 0.08 per cent, at 24,347 points. During the trade, it touched a low of 24,212.10 points and a high of 24,472.80 points. Among the 30 companies in the Sensex, Adani Ports, NTPC, Power Grid, State Bank of India, Nestlé, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the top losers. On the other hand, the beneficiaries include Axis Bank, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank.

buy these stocks now

The stocks which are witnessing strong buying include Inox Wind, Voltas, Glenmark Life, Jubilant Food Works, HFCL, Welspun Corp and Bikaji Foods International. These stocks have crossed their 52-week high. This indicates a rise in these stocks.

Stock on rice

 Gillette India, Trent, AIA Engineering, Orchid Pharma, Bharat Rasayan, Affl India and Pitti Engineering. MACD is known to indicate trend changes in traded securities or indices. When MACD crosses the signal line, it gives a bullish signal. This indicates that the share price may experience fluctuations. Similarly, it also indicates recession.

 stocks fall

MACD has given a bearish signal for Divi's Laboratories, Suven Pharma, Adani Energy Solutions, Sapphire Foods and Mastel. This means that these stocks have started to fall now.

selling pressure

The stocks which are showing selling pressure include Equitas Small Finance Bank. This stock has crossed its 52-week low. This indicates selling in this stock.