March 20 Technicals Daily Report: 23 Positive Stock Ideas With Trend Reversal

Prabhudas Lilladher has come-out with its latest technicals daily report of March 20, which has some stock ideas with positive and negative trend reversals.

Nifty in the previous session

Nifty opening on a positive note near 17100 zone lost steam in the initial half of the trading session but recovered strongly in the second half to once again close near the 17100 level with sentiment and bias slightly improved. For the index, a decisive move past the 17200-17250 zone is important to establish some conviction and anticipate for further rise in the coming days. The support for the day is seen at 17000 while the resistance is seen at 17250

Stock Ideas with Trend Reversal: Adani Enterprises among the list

Positive: ADANI ENTERPRISES, APOLLO HOSP, AXIS BANK, BATA INDIA, BEL, BHARAT FORGE, BHEL, CHOLAFIN, DELTA CORP, DIXON, GRANULES, GRASIM, HCL TECH, HDFC BANK, ICICI BANK, INDIAMART, INTELLECT, JUBL PHARMA, KOTAK MAHINDRA BANK, NAVIN FLURO, TATA CONSUMER, ULTRATECH CEM, UPL and Vedanta Ltd.

Bank Nifty in previous session

Bank Nifty also indicated a decent recovery in the second half from the low made near 38900 levels and ended near the 39600 levels just near the significant 200DMA level with most of the frontline banking stocks picking up momentum with positive bias indicated. "The index has got the near-term support near 38500 and further ahead a decisive move past the 40000 zone would improve the bias to further rise. BankNifty would have the daily range of 39200-40000 levels," the Prabhudas Lilladher technicals daily report stated.

Disclaimer:

The article is prepared from the brokerage report of Prabhudas Lilladher. However, neither the author, nor Greynium Information Technologies Pvt Ltd nor Prabhudas Lilladher should beheld responsible for losses based on a decision made from reading this article. Investors need to understand the inherent risks associated with investing in the markets.