24 Stock Ideas Showing A Strong Positive Trend

Leading brokerage firm Prabhudas Lilladher has identified 24 stocks that are showing a strong positive trend reversal that investors can buy. The technical analysis of the stocks was carried out by Vaishali Parekh, the firm's Vice-President (Technical Research). Besides the stock ideas, she has even shared insights about Nifty and BankNifty.

Observations

According to Praekh's research note, "Nifty has continued with the positive move to breach the 18300 zone improving the bias and with a 'Morning Star' pattern visible on the daily chart, one can anticipate a further rise in the coming days with strength indicated. The levels near 18100 would be the crucial support zone while on the upper side, a decisive breach above 18400 would trigger a fresh upward move with the next targets of 18700-18850 levels. The support for the day is seen at 18200 levels while the resistance is seen at 18450 levels."

Further, she added in her note that "BankNifty, on the other hand, remained passive resisting near the 44000 zone witnessing consolidation and would need a decisive break through above the 44200 zone for fresh breakout and anticipate a further rise in the coming days. The levels near 43400 would remain as the important near-term support zone while above 44200, we have fresh upside targets of 45900-46000 levels. BankNifty would have the daily range of 43500-44200 levels."

The Stocks Showing Positive Trend

The stocks are: Aarti Industries, ACC, Adani Ports, Adani Power, Ambuja Cement, Apollo Hospitals, Balkrishna Industries, Bharat Electronics, Canara Bank, Dr Reddy, Greaves Cotton, Indiabulls Housing Finance, ICICI Prudential, JSW Steel, Jubilant Pharma, KEC International, L&T, L&T Technology Services, Muthoot Finance, Power Finance Corporation, Rain Industries, Sun Pharma, Tata Consultancy and Voltas.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the author or the brokerage house will not be liable for any losses caused as a result of decisions based on the write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.