24 Stock Recommendations From Prabhudas Lilladher

As per the technical research not of leading stock-broking firm Prabhudas Lilladher, it has spotted 24 stocks that are showing a strong positive and negative trend reversals. The research was carried out by Vaishali Parekh, the firm's Vice-President (Technical Research). Along with stocks trends, she has even shared light on the movement of Nifty & Bank Nifty.

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 Ambuja Cement, Bajaj Finserv, CESC, DLF, Gujarat State Fertilizers & Chemicals Limited, Hindalco, Hindustan Zinc, JSW Steel, Kaveri Seed, Mphasis, Steel Authority of India (SAIL) and Thyrocare Technologies.

Stocks Showing Negative Trend

Another 12 stocks are showing a strong negative trend, which the investors can exit from. These stocks are Bandhan Bank, Bata India, HCL Tech, India Bulls Housing Finance, Intellect Design Arena, Kansai Nerolac Paints, Max Financial Services, Mahanagar Gas, Praj Industries, Syngene International, United Breweries and VRL Logistics.

Nifty & Banknifty Movement

According to the research note, it is observed that "Nifty amid some volatile session closed in the green above 18500 level with near-term support visible and maintained near 18470 zone. Auto stocks continue to show strength and Metals also beginning to indicate improvement in the bias has much upside potential in the coming days.

In the note, Parekh stated, "As said earlier, the index needs to breach above the 18600-18650 zone for a fresh upward move. The support for the day is seen at 18200 levels while the resistance is seen at 18900 levels."

Further, it was given in the note that "BankNifty has maintained the support zone near 43700-43800 levels witnessing some pull back with most of the frontline banking stocks had a lackluster session. The index has an important barrier near the 44500 zone which needs to be breached decisively for further fresh upside move. BankNifty would have the daily range of 42900-45200 levels."

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