Prabhudas Lilladher Recommends 24 Stocks Showing Strong Positive & Negative Trends

Leading stock-broking firm Prabhudas Lilladher has identified 24 stocks that are showing a strong positive and negative trend reversal based on technical analysis. The analysis was done by Vaishali Parekh, company's Vice-President (Technical Research). She has even shared insights about Nifty and Bank Nifty.

According to Parekh's research, "Nifty has moved further strongly above the 18,350 barrier zone to indicate strength and further rise is anticipated in the coming days with support strong near 18,200 zone. Most of the major frontline stocks like RIL, ICICI Bank, ITC, L&T, Infy and M&M have supported the index to surge ahead with bias remaining positive. The support for the day is seen at 18,250 levels while the resistance is seen at 18,550 levels."

"BankNifty also has gradually moved past the psychological 44,000 zone and indicating a strong closing has prominent, strength to carry on the momentum still further ahead. As said earlier, the near-term support lies strong at around the 43,700 zone and it has retested the previous peak zone, a decisive move above which a fresh upward journey would be triggered with 45,400 levels as the initial target. BankNifty would have a daily range of 43,700-44,500 levels," she noticed during her analysis.

Stocks showing positive trend

A total of 12 stocks are showing a strong positive trend, which traders can think of buying now. The stocks are Bank Of Baroda, City Union Bank, Godrej Properties, HDFC, HDFC Bank, Infosys, Kotak Mahindra Bank, L&T Finance Holdings, Power Finance Corporation, RBL Bank, REC and State Bank of India.

Stocks showing negative trend

A total of 12 stocks are showing a strong negative trend, which traders should exit from. They are: ABB India, Adani Ports, And Special Economic Zone, Berger Paints India, Ceat, Kansai Nerolac Paints, Maruti Suzuki India, Pidilite Industries, Siemens, Shriram Transport Finance, Tata Coffee, TCS and Va Tech Wabag.

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.