12 Positive & 12 Negative Stock Ideas For Traders From Vaishali Parekh Of Prabhudas Lilladher

Nifty was down by 129 points or 0.74% on Thursday and BSE Sensex also ended low, it was down 501.73 points or 0.84%. Even Bank Nifty, IT Nifty were down by 0.76% and 1.26 % respectively, along with BSE smallcap Index, it fell by 0.22%.

"Nifty fizzled out with all the gains witnessed in the previous session and slipped back to the 17300 zone with sentiment still remaining cautious and uncertainty still looming in the minds of the market players. The index needs to cross decisively the level of 17400 to establish some conviction and on the downside 17200 remains as the near-term support zone as of now. The support for the day is seen at 17200 while the resistance is seen at 17450." Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd

As per the guidance on BankNifty, Vaishali Parekh mentioned, "Bank Nifty also wiped off the gains seen a day before resisting near the 40700 zone and making a lower top formation on the daily chart which is not a good sign. On the downside, 39800 level remains the important support zone in the near-term time frame and on the upside needs to clear above the 41400 zone decisively to establish some conviction. BankNifty would have the daily range of 39800-40850 levels."

Stocks showing a positive trend

Bharat Forge Limited, Bharat Petroleum Corporation Limited, Ceat Limited, Divi's Laboratories Limited, Fortis Healthcare limited, Hero MotoCorp Limited, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, SRF Limited, Sun Pharmaceutical Industries Limited, Torrent Power Limited and Voltas Limited

Stocks showing a negative trend

Can Fin Homes Limited, Escorts Kubota Limited, HDFC Life Insurance Company, ICICI Lombard General Insurance Company Limited, ICICI Prudential Life Insurance Company Limited, Indraprastha Gas Limited, Maruti Suzuki India Limited, United Spirits Limited, Syngene International Limited, Tata Consumer Products Limited, Tata Consultancy Services Limited, and VRL Logistics Limited.

Courtesy: Prabhudas Lilladher report