24 'Buy' Stock Ideas From Leading Brokerage Firm Prabhudas Lilladher

According to Vaishali Parekh, a technical research analyst and the Vice-President (Technical Research) at Prabhudas Lilladher, 24 stocks are showing a strong positive trend reversal. She has also shared insights about the Nifty and Bank Nifty progression in her research note.

Insights on Nifty & Bank Nifty

As per Parekh's research, Nifty has finally breached the resistance of the 18650 zone to improve the bias and is optimistic to retest the previous peak level of 18887 in the coming days with strong sentiments visible from frontline stocks like RIL, Axis Bank, L&T, HDFC twins, Bharti Airtel, TCS and many more.

She further observed that the levels near 18450 remain as the crucial support zone for the index with all eyes focused on the RBI MPC announcement outcome. The support for the day is seen at 18600 levels while the resistance is seen at 18900 levels.

Bank Nifty witnessed rangebound movement with a gradual pickup overall anticipating retesting the peak zone with some of the major frontline banking stocks showing a prominent positive move.

As previously suggested, the index has the 44500 zone as the barrier which needs to be breached decisively whereas, on the downside, the 43700 level would remain as the important support zone. Bank Nifty would have a daily range of 43900-44700 levels.

Stocks showing positive trend

The 24 scrips showing positive trend are: ABB, Apollo Tyre, Balkrishna Industries, BPCL, CEAT, Century Textiles, Cholamandalam Investment & Finance, City Union Bank, GAIL, Godrej Consumer Products, HDFC, HDFC Life Insurance, Indraprastha Gas, Jubilant Pharmova, Dr Lal Pathlabs, Manappuram Finance, Pi Industries, Reliance, SBI Life Insurance, Star, Tata Consumer, TVS Motors, United Breweries and VIP Industries.

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