The domestic equity market was trading in a range in Fridays session amid mixed global cues.Popular market indicator, Momentum indicator Moving Average Convergence Divergence (MACD) depicted the shares of Aksh Optifibre, Vikas Ecotech, Aban Offshore, UPL Ltd, Stampede Capital, Venky (India), Cyient Ltd, Jayaswal Neco Industries, Tata Communications, R P P Infra Projects, 8K Miles Software Services, Atlanta, SATIN, Gravita India, Arshiya Ltd, Datamatics Global Services, Harrisons Malayalam, Simbhaoli Sugars witnessed upward crossover, or bullish crossover, indicating that they have just begun an upward journey.Aegis Logistics, JK Lakshmi Cement, GeeCee Ventures, Trent, Hind Rectifiers, Kansai Nerolac Paints, Kohinoor Foods, Uniply Industries, Nandan Denim Ltd, Shalimar Paints, Rajshree Sugars Chemicals, Wonderla Holidays Ltd, Umang Dairies, Parsvnath Developers, Aries Agro, Ingersoll-Rand (India), MT Educare, IFB Industries, Maan Aluminium, Alphageo (India), HESTERBIO, Fiem Industries, Orissa Minerals Development Company, Mukand Engineers, MOLDTKPAC, Vinati Organics, Matrimony, Cambridge Technology Enterprises, Sarla Performance Fibers, Goldiam International, Gallantt Ispat, CL Educate, Hindustan Media Ventures, Indo Tech Transformers, Ahluwalia Contracts (India), TIL, Sterling Tools, SPAL, Federal-Mogul Goetze (India), Centum Electronics, Vindhya Telelinks, Ambika Cotton Mills, SIL Investments, Paisalo Digital, Asian Hotels (East) and JMA were among other stocks that witnessed upward movement.Some of these counters have also been witnessing strong volumes, adding further credibility to the emerging trend.The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of prices.MACD is the difference between 26-day and 12-day exponential moving averages.A 9-day exponential moving average, called the signal line, is plotted on top of the MACD to show buy or sell opportunities.A buy signal occurs when the MACD rises above its signal line and vice-versa.
However, the MACD indicator alone may not be sufficient to take an investment or trading call.Traders should make use of other indicators such as Fibonacci series, RSI, candlestick patterns, Bollinger Bands and stochastic to confirm any trend.
It is advisable to consult a financial expert before taking any buy or sell call on a stock based on chart reading.Shares of Ind-Swift Labs, Sundram Fast, Borosil Glass, Tata Elxsi, M M Forgings, Bajaj Finance, United Brewerie, Zydus Wellness, Mahindra Logistics Ltd.
and RIL hit their fresh 52-week highs in Friday's trade on NSE.