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The Moving Average Convergence Divergence (MACD) indicator is a helpful tool for investors seeking potential opportunities in the stock market. Recently, ETMarkets identified five Indian stocks with a Bullish MACD Crossover, each with a market capitalization of over Rs 50,000 crore. These include Tata Motors, HCL Technologies, Life Insurance Corporation of India, Vedanta, and ITC Ltd. However, investors should conduct comprehensive research and consult financial advisors before making any investment decisions, as investing in the stock market carries risks.

RVNL shares rise over 4% on multiple project wins

Updated at : 2023-06-21 14:25:02

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Rail Vikas Nigam (RVNL) has received three letters of acceptance from Chennai Metro Rail for various underground stations. The orders are valued at INR 3,058.20 Crore ($412m), and the projects will be completed in a span of up to five years. The share price of the PSU rose over 4% on BSE following the announcement of the orders. Analysts remain bullish on the stock, and the consensus recommendation from one is a strong buy, with an average target price showing an upside potential of 5% from current market prices.

The market capitalisation of BSE-listed companies reached an all-time high of INR 294.49 lakh crore as the Sensex benchmark hit a record high of 63,588.31. The optimistic trend in equities allowed the market capitalisation of all firms listed on BSE to reach a peak, thanks to buying by index majors, HDFC twins and Reliance Industries. The Indian stock market has seen a solid rally in the last few months, especially within the mid- and small-cap ranges. Furthermore, positive foreign institutional investor flows, robust economic growth, strong earnings outlook, and robust demand from investors are driving investor confidence.

Foreign institutional investors have opened a $9bn-strong wallet for Dalal Street in FY24, as Sensex hit a record lifetime high at 63,588 while on International Yoga Day today, some analysts said the market has been slowly stretching without any sharp up or down moves. IndusInd Bank, Power Grid, Tata Motors, Titan Company and Ultratech Cement are among the seven other stocks that have delivered double-digit returns, but Infosys shares are down 21% since the last Sensex peak, while Reliance Industries (RIL) has lost about 6.5%.

Crypto a 'flawed system': BIS

Updated at : 2023-06-21 14:25:02

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The Bank for International Settlements (BIS) has voiced its support for centralised alternatives to cryptocurrencies, calling them a "flawed system". Instead, the BIS supported the idea of "tokenisation", or the conversion of other assets and money into digital tokens that can be traded on platforms. The decentralised nature of cryptocurrencies, often praised for its anonymity and trading freedom, makes it organisationally unstable, according to the BIS. The BIS stated that tokenisation offers the promise of a "major leap" in the financial system, and called it the next logical step in the digital transfer and record keeping of assets.

Overbought stocks: 6 companies with RSI above 75

Updated at : 2023-06-21 14:25:02

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Investors should monitor six Indian companies with a Relative Strength Index (RSI) above 75 and market capitalisation over Rs 75,000 crore ($10bn), according to an ETMarkets screener. Hindustan Aeronautic and Bharat Electronics are both in the defence sector, while ICICI Prudential Life and two other firms are insurers. The final firm is Britannia Industries, which sells biscuits, cakes, and dairy products. An RSI of over 75 signals overbought conditions that increase the probability of a shift in direction, but the strong market positions of the firms might still make them attractive long-term investments.

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ETMarkets has identified nine Indian stocks where the MACD line has recently crossed below the signal line, indicating a potential downward trend. Among these are financial institution IDFC, energy and environment solutions provider Thermax, aluminum producer National Aluminium, and wind energy company Suzlon Energy. The bearish crossover did not rule out the attractiveness of these high-capacity companies. Other stocks include construction and engineering business Carborundum, tobacco, and hospitality giant ITC, and multinational pharmaceutical company Sun Pharmaceutical.

ETMarkets has identified 7 stocks that exhibit a Bullish MACD Crossover through their screener. The crossover, a sign of an upward trend, has been observed in Max Financial Services, Metro Brands, JSW Energy, Indraprastha Gas, Tech Mahindra, L&T Technology Services, and Biocon, present investment opportunities for traders. Max Financial provides life insurance services, Metro Brands deals in retail, JSW Energy supplies power, Indraprastha Gas is in the city gas distribution business, Tech Mahindra provides IT services, L&T Technology Services offers engineering solutions, and Biocon is a biopharmaceutical company developing innovative therapies for chronic illnesses.

Investing in the stock market is similar to practising yoga, where the mind, body and soul must be aligned, according to Vijay Kedia, managing director of Kedia Securities. Speaking on International Yoga Day, he advised investors to keep calm, find their purpose and never be too elated or depressed by a sudden stock rise or fall. Discussing current market trends, Nilesh Shah, managing director at Kotak Mahindra Asset Management Company, recommended long-term asset allocation. He suggested investors should remain focused on personal goals rather than index levels and not get too excited about record highs.

ETMarkets, a comprehensive market analysis tool, has identified five Indian stocks above Rs 5,000 crore market capitalization exhibiting the Golden Crossover pattern. A bullish signal occurs when the short-term moving average crosses above the long-term moving average indicating stock momentum shifting from bearish to bullish. These five stocks are SIS Ltd., Century Plyboards (India) Ltd., Bikaji Foods International Ltd., Tata Steel Ltd., and Ashok Leyland Ltd. Investors must analyze historical performance and consider economic factors before making any investment decisions, and utilizing this pattern is a starting point for investors.

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