Capitalstars Updates: Have these 5 stocks entered into the Bear Market territory?: 17 Feb 2018

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Following are the 5 stocks that have likely entered into a bear market phase and might witness medium term hiccups.

Indian equities are witnessing immense selling pressure since the beginning of the February expiry. Baring few counters, the majority of the underline securities have witnessed short selling or long unwindings, indicating a negative bias for the markets. As broader markets continue to underperform the benchmark index, many trading favorite stocks have entered into Bear Market and have left many retail investors high and dry.
 
What is BEAR Market?
 
Markets in which the price of an investment falls over a continued period of time is referred to as Bear market. It generally occurs when the prices of an underlying security drop by around 20% or more from its 52-week high along with a sharp fall in the benchmark index.
 
In the Bear market, according to the Dow Theory, when a stock enters its lower top lower bottom chart structure, it is considered as a weak stock. Lower top lower bottom chart structure occurs when a stock fails to go past its previous high and manages to breach its previous low. 
 
On similar lines, tracking the Japanese Candlestick, a stock is considered to enter a bearish phase when it forms a Gravestone Doji and a Bearish Engulfing pattern in addition to various other candlestick patterns.
 
According to the above-mentioned theories, following are the 5 stocks that have likely entered into a Bear market phase and might witness medium term hiccups.

Stocks February Low 52-Week High % Price Correction Japanese Candlestick Dow Theory
Bombay Rayon Fashion 55.3 231.65 ~ -75% Bearish Engulfing Lower Top Lower Bottom.
Motherson Sumi 319.1 395.6 ~ -20% Bearish Engulfing Lower Top Lower Bottom.
Eicher Motors 33480 26208.05 ~ -22% Bearish Engulfing Lower Top Lower Bottom.
Srei Infra 72.5 138 ~ -47% Bearish Engulfing Lower Top Lower Bottom.
Raymond 1141.9 851 ~ -25% Gravestone Doji Lower Top Lower Bottom
 
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