24 Stocks Showing Negative Trends

Here are 24 stocks showing a strong negative trend reversal, as per Vaishali Parekh, a technical research analyst and the Vice-President (Technical Research) at Prabhudas Lilladher. As per the research, investors can likely sell these stocks, as their fall can prove to be harmful. Besides the stock suggestion, she has also shared insights about the Nifty and Bank Nifty progression in her research note.

Insights on Nifty & Bank Nifty

According to the research note, Nifty after the morning session witnessed heavy selling resisting near the 18770 zone and lost momentum as the day progressed to end in the red near 18600 levels.

She further pointed out that the sentiment has turned a little bit cautious with the broader market also witnessing some profit booking after a significant period with 18450 as the crucial support zone. The support for the day is seen at 18500 levels while the resistance is seen at 18800 levels.

BankNifty also slipped drastically from the 44400 zone to weaken the bias and closed just below the 44000 levels losing 280 points. Note that, the index has the crucial support zone near 43700
level whereas the 44500 zone remains as the resistance barrier which needs a breakout. BankNifty would have a daily range of 43700-44400 levels.

Stocks showing negative trend

There are 24 scrips which are showing negative trends. They are Adani Ports, Apollo Hospital, Aurp Pharma, BEML, DCB Bank, DCL, Escorts Kubota, Exide Industries, Godrej Properties, Grasim, GSFC, India Cement, India Mart, IRB Infra, Cummins, M&M, Nam-India, PEL, RBL Bank, SRF, Sum Pharma, Sun Tv, Titan and Trent.

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.