25 Stock Ideas Showing A Strong Negative Trend

Leading brokerage firm Prabhudas Lilladher has identified 25 stocks that show a strong negative trend reversal based on technical analysis. The technical analysis is done by Vaishali Parekh, its Vice-President (Technical Research). She has even shared insights about Nifty and Bank Nifty.

Based on her research note, it is seen that "Nifty has consolidated quite significantly near the 18,300 zone for some time as of now indicating strength turning up the daily trend and a decisive move past the 18,350 zone would trigger for further fresh upward movement in the coming days. As said earlier, the zone near 18,200 is strong support maintained, and with most of the frontline stocks well placed with positive bias and trend maintained, further rise is anticipated. The support for the day is seen at 18,200 levels while the resistance is seen at 18,450 levels."

While it is observed that BankNifty also has slowly and gradually moved past the previous peak 43,700-43,750 zone to show improvement in the bias and trend with most of the blue-chip banking stocks like Axis Bank, ICICI Bank, HDFC Bank, and SBI well-placed and anticipated for further gains. For the index, the major support zone would be 42,700 levels, and upside a decisive breach above 44,200 would enter into a new territory. BankNifty would have a daily range of 43,400-44,200 levels.

Stocks showing a strong negative trend

A total of 25 stocks are showing a strong negative trend, which traders should exit from are Bharat Electronics, BEML, BIOCON, Bharat Petroleum (BPCL), Cholamandalam Investment & Finance, Container Corporation of India, Grasim Industries, Greaves Cotton, Greenply Industries, Hindustan Zinc, ICICI Prudential, Indian Energy Exchange, InterGlobe Aviation, KEC International, Max Financial Services, Mphasis, Muthoot Finance, NTPC, Power Grid Corporation (PGCI), Ramco Cements, Repco Home Finance, Tata Elxsi, Ultratech Cement and Vedanta.

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.