11 Stocks Showing A Positive Trend Reversal, Should You Buy?

Here are a set of 11 stocks that are showing a positive trend reversal, according to Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd . "Nifty continued to trade lower for the 6th consecutive sessions breaching below the 17500 zone with sentiment and bias getting weaker. The index, as said earlier, has got the next major support zone near the significant 200DMA level of 17350 which is also where the previous crucial bottom was made on the Budget day and thereafter has the 17100 level of the falling trendline support zone," Parekh noted in her report.

Bank Nifty

BankNifty also is indicating weakness and has breached below the 40000 zone with most of the frontline banking stocks showing weak bias and further slide anticipated. Similarly, as said earlier, the index has got the next major support zone near 39500 levels and thereafter 39200 of the significant 200DMA levels.

Here are stock ideas showing a positive "buy" signal

Among the stocks showing a positive buy signal include names like according to Prabhudas Lilladher are names like BATAIN, BIOCON, Container Corporation, City Union Bank, GNFC, Greaves Cotton, GSPL, HDFC Asset Management, Hindustan Zinc, Indigo, Power Grid, Shriram Transport Finance.

Here are stocks showing negative signals

CESC, EMAMI LTD, FORTIS, GLENMARK, GMDC, MCX, NATIONALUM, SYNGENE, TECHMAHINDRA, TATASTEEL, UBL, VOLTAS.

Courtesy: Prabhudas Lilladher