5 Stocks Showing Positive Buy Signal, 23 Showing Negative Signal

Here are a few set of stocks that are showing buying and sell signals, according to leading brokerage firm Prabhudas Lilladher.

Stocks showing a strong positive

Stocks of Abb Limited, Kansai Nerolac Paints Limited, KEC Internatioanl Limited, Nippon Life India Asset Management Ltd, and VIP Industries are showing a strong positive.

Stocks showing a negative

2 Stocks of Adani Group; Adani Ports & Special Economic Zone Limited, Ambuja Cement, along with stocks of Asain Paints Limited, Balarampur Chini Mill Ltd, BEML Limited, Bharti Airtel Limited, Eiicher Motors Limited, Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Grasim Industries, Gujarat State Fertilizers & Chemicals Ltd, Hindustan Aeronautics Limited, India Cements Limited, Jubilant FoodWorks Ltd, Dr. Lal PathLabs Ltd, Larsen & Toubro Ltd, L&T Technology Services Ltd, Pidilite Industries Ltd, RALLIS India Limited, Raymond Limited, Reliance Industries Limited, SRF Limited, Torrent Power Limited, and TVS Motors Limited are showing a negative.

NIFTY

Meanwhile, according to Prabhudas Lilladher, Nifty continues to witness tough resistance near 17708 and with a lower top formation on the daily chart has indicated weakness with volatility and a sense of cautiousness building up. "Nifty plunged below the 17800 zone and slipped further as the day progressed to close on a very weak note near 17550 zone with 4 consecutive sessions of negative closing. The index has got the next major support near the significant 200DMA level of 17350 zone which is also the previous bottom made on the budget day session." Prabhudas Lilladher has said in its latest report.

BANK NIFTY

At the same time Banknifty also witnessed intensified heavy selling pressure below the 40500 zone and touched the intraday low of 39900 levels with weak bias and has the next major support near 39450-39500 zone of the previous bottom level. Most of the frontline heavyweight banking stocks have witnessed profit booking with trend turning weak and further slide is anticipated.

Courtesy: Prabhudas Lilladher report