23 Technical Stock Picks For Investors From Leading Stock-Broking Firm

Leading brokerage house Prabhudas Lilladher has suggested to investors 23 stocks that are showing strong positive and negative trend reversals based on technical analysis. Besides the stock ideas, insights about the Nifty and BankNifty movement were also observed, by Vaishali Parekh, the firm's Vice-President (Technical Research), who carried out the technical analysis.

Stocks Showing Positive Trend

Stocks of Arvind, Biocon, Exide Industries, Firstsource Solutions, Gujarat Mineral Development Corporation, Godrej Industries, Hindustan Petroleum Corporation, Indo Count Industries, IndiaMART InterMESH, L&T Technology Services, Petronet LNG and Tata Motors are showing a strong positive trend, which the investors can think of buying now.

Stocks Showing Negative Trend

Stocks of ACC, Ambuja Cement, Axis Bank, HDFC, HDFC Bank, Heromoto Corp, Hindalco, Ramco Cement, State Bank Of India, TCS and Torrent Power are showing a strong negative trend, which the investors can exit from.

Nifty & Banknifty Movement

According to the analyst's observations, it is seen that Nifty has continued with the positive move to breach the 18300 zone improving the bias, and with a "Morning Star pattern" visible on the daily chart, one can anticipate further rise in the coming days with strength indicated.

Parekh emphasizes that "Nifty levels near 18100 would be the crucial support zone while on the upper side, a decisive breach above 18400 would trigger for a fresh upward move with next targets of 18700-18850 levels. The support for the day is seen at 18200 levels while the resistance is seen at 18450 levels."

As per the analysis, she pointed out that "BankNifty, on the other hand, remained passive resisting near 44000 zone witnessing consolidation and would need a decisive breakthrough above the 44200 zone for fresh breakout and anticipate for a further rise in the coming days. BankNifty would have the daily range of 43500-44200 levels."

Disclaimer

The stocks have been picked up 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.