24 Stock Ideas Showing Strong Trends For Investors

Leading brokerage firm Prabhudas Lilladher has identified 24 stocks that are showing a strong positive and negative trend reversal based on technical analysis note. This technical analysis was carried out by Vaishali Parekh, the firm's Vice-President (Technical Research). Besides the stock ideas, she has even shared insights about Nifty and Bank Nifty.

Observations

Based on Praekh's research note, it is seen that "Nifty gave a negative closing for the second consecutive day indicating two weak candles after the recent rally to anticipate a trend reversal for the index having 18,000 as the psychological support as of now. The level near 17,800 of the significant 200DMA would be the major support zone for the index if there is any major slide witnessed in the coming days. The support for the day is seen at 18,050 levels while the resistance is seen at 18,300 levels."

In her note, she has observed that "BankNifty also breached the 43,700 zone during the intraday session to turn down the daily trend but still the last hour pullback has slightly improved the bias to some extent anticipating for some revival. A decisive breach below the 43,300 zone would further weaken the bias to anticipate for a further slide in the coming days. BankNifty would have the daily range of 43,300-44,100 levels."

Stocks Showing Positive Trend

A total of 12 stocks are showing a strong positive trend, which the investors can think of buying now. They are: Ajanta Pharma, Amara Raja Batteries, Arvind, Chambal Fertilisers & Chemicals, Deepak Nitrite, Escorts Kubota, Federal Bank, Gujarat Mineral Development Corporation, Gujarat State Fertilisers & Chemicals, Hindustan Zinc, Jubilant FoodWorks and Ramco Cements.

Stocks Showing Negative Trend

A total of 12 stocks are showing a strong negative trend, which the investors can exit from. The stocks are Asian Paint, Bajaj Finance, Bata India, DCB Bank, HCL Tech, Hindustan Petroleum Corporation, ICICIBank, L&T Technology Services, Lupin Ltd, McDowell Holdings, Tata Power, and Titan.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the author and the 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.