Prabhudas Lilladher Recommends 23 Stocks Showing Strong Trend Reversals

Leading stock-broking firm Prabhudas Lilladher in its research note has suggested 23 stocks that are indicating a strong positive trend reversal that investors can buy. The technical analysis of the stocks was done by Vaishali Parekh, the firm's Vice-President (Technical Research). Besides the stock ideas, she has also shared her insights about the Nifty and BankNifty movement.

Observations

In Praekh's research note, it is mentioned that "Nifty has witnessed a strong recovery from 18200 zone with bias turning positive and with a breach above the crucial barrier of 18400 zone has strengthened the overall trend anticipating for a further rise in the coming days."

As said earlier, in the note she states that "the near-term upside targets of 18800-18900 levels are open now with most of the frontline stocks well placed and indicating improvement in the bias. The support for the day is seen at 18350 levels while the resistance is seen at 18650 levels."

She also added in her note that "BankNifty also surged ahead to end up above the 44000 zone to indicate positive bias and sentiment anticipating for a decisive breach above the previous peak zone of 44150 levels and opening the gate for next targets of 46000-46400 levels. BankNifty would have the daily range of 43700-44500 levels."

Stocks Showing Positive Trend

A total of 23 stocks are showing a strong positive trend, which the investors can think of buying now. They are ABB, Asian Paints, Auropharma, Axis Bank, Bank of Baroda, BSE, Castrol, Federal Bank, Godrej Industries, HDFC AMC, Hindalco, Hindustan Unilever, Jindal Steel, Cummins India, Kotak Mahindra Bank, Marico, Metropolis, Nalco, Pidilite Industries, Reliance, State Bank Of India, Tata Steel, Titan and Ultratech Cement.

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