23 Stock Ideas Showing Diverse Trends, From Leading Stock-Broking Firm

Prabhudas Lilladher, one of the prominent brokerage firms, has screened 23 stocks that show diverse trends. The stocks were identified based on the technical analysis done by Vaishali Parekh, the firm's Vice-President - Technical Research. She has even shared insights about Nifty and BankNifty.

Nifty & BankNifty Movement

As per Parekh's research note, it is observed that "Nifty after opening on a positive note witnessed resistance near the important 18400 zone to cool off in the final hours shedding some gains but the overall trend is maintained positive anticipating for further gains."

"As said earlier, the levels near 18100 would be the crucial support zone while on the upper side, a decisive breach above 18400 is necessary to establish confirmation for further fresh upward move with the next targets of 18700-18850 levels. The support for the day is seen at 18250 levels while the resistance is seen at 18500 levels," her note added.

For the Banknifty, it is seen that "it has been hovering near the 44000 zone for quite some time witnessing a solid consolidation and with a decisive breach above the 44200 zone would trigger for fresh breakout anticipating for a further rise in the coming days."

"Most of the frontline banking stocks are well placed, technically, and have scope for further gains in the coming days, as we foresee a fresh upside target of 45900-46000 levels. BankNifty would have the daily range of 43600-44200 levels," Parekh added in the research note.

Stocks showing positive trend

There are a total of 11 stocks that are showing a strong positive trend, which the investors can think of buying now. They are: Apollo Tyre, Bajaj Finserv, Bandhan Bank, Berger Paint, BPCL, Ceat Ltd, Cipla, Concor, Delta Corp, Hindalco and HPCL.

Stocks showing a negative trend

A total of 12 stocks are showing a strong negative trend, which the investors can exit from. The stocks are ITC, Mahindra & Mahindra Financial Services, Manappuram Finance, Naukri - INFO Edge (INDIA), NMDC, Raymond, RBL Bank, Repco Home Finance, Shriram Finance, Tata Communications, Torrent Power and TVS Motors.

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 this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.