24 Stock Ideas With Varying Trends Spotted By Leading Stock-Broking Firm

Leading brokerage firm Prabhudas Lilladher has identified 24 stocks that are showing a strong positive and negative trend reversals based on technical analysis note. This technical analysis was carried out by Vaishali Parekh, the firm's Vice-President (Technical Research). Besides the stock ideas, she has even shared insights about Nifty and Bank Nifty movement.

Stocks Showing Positive Trend

A total of 12 stocks are showing a strong positive trend, which the investors can think of buying now. They are: Can Fin Homes DLF, Escorts Kubota, Grasim Industries, HDFC, HDFC Bank, Hero Motocorp, India Cements, Mahindra & Mahindra Financial Services, Mahanagar Gas, Steel Authority Of India and Ujjivan Financial Services.

Stocks Showing Negative Trend

Another 12 stocks are showing a strong negative trend, which the investors can exit from. The stocks are Balkrishna Industries, Ceat, GlaxoSmithKline Pharma, Godrej Industries, Himadri Speciality Chemical, Indian Hotels, Intellect Design Arena, KEC International, Maithan Alloys, Oracle Financial Services Software, Power Grid Corporation Of India and Wockhardt.

Nifty & Banknifty Movement

As per Parekh's research note, it is seen that "Nifty has witnessed a strong gap up opening near 18600 zone and thereafter remained rangebound for the rest part of the session with positive bias maintained and expecting for a further upward move."

She further says, "We anticipate the index to attain the next targets of the 18800-18900 zone with most of the frontline stocks like RIL, ITC, HDFC Bank, M&M and SBI looking good for further gains in the coming days. The support for the day is seen at 18450 levels while the resistance is seen at 18750 levels."

In her note, she pointed out that "BankNifty made an all-time new high with a gap up opening above the previous peak of 44150 levels and has entered new territory with strong bias indicated and is anticipated to carry on the positive move for next targets of 45900-46000 levels. BankNifty would have the daily range of 44000-44800 levels."

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the author or 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.