Positive & Negative Technical Ideas from Praduhas Lilladher for Traders

Vaishali Parekh, Vice President - Technical Research, of Prabhudas Lilladher Pvt. Ltd has suggested few stocks for traders based on technical analysis.

She shared stocks that showed positive and negative trends. Given are the details below.

On March 9, 2023 the Nifty opened low near 17600 zone but recovered quite decently to attain 17700 levels and in the final hours witnessed improved momentum to close near the 17750 zone with overall sentiment and bias maintained strong. As said earlier, the near-term support is strong near 17550 zone and further a decisive breach above 17800 would strengthen the current trend for carrying on with the momentum still further ahead for the next target of 18100 levels. The support for the day is seen at 17650 while the resistance is seen at 17900. It is down at 17,585.50.

BankNifty also recovered gradually after a negative start and post lunch session picked up momentum to end near 41600 levels with overall bias maintained positive. Further ahead, the index if given a decisive breach above 41800-41850 zone then shall indicate a breakout above the previous peak level and can expect for next target of 43000 level. BankNifty would have the daily range of 41200-42000 levels.

But despite the markets showing resistance, there are stocks which show a positive trend are:

AJANTPHARMA, BAJAJ AUTO, BOSCH, CESC, GODREJCP, JUBLPHARMA, MAITHANALL, POLYCAB, SIEMENS, and ULTRATECH CEM

While some of the companies showed negative trend:

BANDHAN BANK, BIOCON, DCB BANK, DIVIS LAB, EMAMI LTD, HEIDELBERG CEME, KANASAI NERO, LALPATHLAB, MARICO, NAUKARI, SUNPHARMA, YES BANK

Disclaimer:

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