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Have these 5 stocks entered into the Bear Market territory?

Indian equities are witnessing immense selling pressure since the beginning of the February expiry. Baring few counters, majority of the underline securities have witnessed short selling or long unwinding, indicating a negative bias for the markets. As broader markets continue to under-perform 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 drops by around 20% or more from its 52-week high along with a sharp fall in the benchmark index.

In 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.