12 Technical Stock Ideas From Prabhudas Lilladher For Traders

Brokerage firm Prabhudas Lilladher shared insights about Nifty and Bank Nifty movement along with stock ideas suitable for traders based on technical analysis. The stocks given show a strong positive or negative trend. The technical analysis is done by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd.

As per the technical research by the analyst, "Nifty after moving past the significant 18200 zone attempted to cross the 18350 zone during the intraday session but witnessed resistance and slipped to close near the 18250 levels with some of the heavyweights shedding their gains dragged the index to some extent. Nifty index has the next important hurdle of 18450 levels on the upside whereas downside 18200 would be maintained as the crucial support zone as of now and with political events ahead, one can anticipate volatility and fluctuations."

Based on the research note, the analyst has suggests that the BankNifty has remained subdued since the past 3-4 sessions as compared to the Nifty index with tough resistance visible near the 43700 zone and on the downside 42500 levels as the important support zone. A decisive breach of the 43700-43800 zone is required to trigger a fresh upward move for the index. BankNifty would have a daily range of 42800-43600 levels.

Stocks showing a strong positive trend

A total of 12 stocks are showing a strong positive trend thus making them suitable to buy for the traders. The stocks are: FSL, GUJ GAS, IGL, M&M, MGL, NAM INDIA, NALCO, PIDILITE , SRF, SRTRANSFIN, TATA COMM, VOLTAS.

Stocks showing a strong negative trend

A total of 12 stocks are showing a strong negative trend, which is good for selling now. ACC, CANFINHOME, EMAMI LTD, HEIDELBERG, HSCL, ICIL, IPCA LAB, ITC, JUBLFOOD, L&TFH, SHREE CEMENT, TATA CHEM.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.