Prabhudas Lilladher Identifies 24 Stock Ideas With Diverse Trends

Leading brokerage firm Prabhudas Lilladher, in its technical research note, has spotted 24 stocks that are showing a strong positive and negative trend reversal. The technical research was done by Vaishali Parekh, the firm's Vice-President (Technical Research). Additionally, she has even shared insights about the Nifty and Bank Nifty movement.

Stocks Showing Positive Trend

Here are the names of the stocks showing positive trends, which the investors can think of buying now. BEML, Hindustan Aeronautics Ltd (HAL), Housing & Urban Development Corporation, Indian Hotels, Intellect Design Arena, KEC International, MRPL, NHPC, Oracle Financial Services Software, Polycab India Limited, Siemens and Sun Pharma Advanced Research Company.

Stocks Showing Negative Trend

Another 12 stocks are showing a strong negative trend, which the investors can exit from. The stocks are Adani Enterprises, Adani Power, Apollo Tyre, AU Small Finance Bank, Bajaj Auto, Coforge, Eicher Motor, Greenply Industries, Jubilant Pharmova, Info Edge India (Naukari), Tech Mahindra and TVS Motor.

Nifty & Banknifty Movement

As per her research note, it is seen that "Nifty witnessed some consolidation near the 18650 zone during the intraday session and closed marginally in the green above 18600 with overall bias maintained positive and expecting to carry on the momentum still further ahead."

"With the near-term support maintained near 18570 zone, we anticipate the index to achieve the next targets of 18800-18900 zone in the coming days with some of the heavyweights' stocks like ITC, Kotak Bank, Infosys, Bajaj Finance, ICICI Bank and RIL which are all placed well to carry the index to new heights. The support for the day is seen at 18500 levels while the resistance is seen at 18800 levels," it added.

In her note, Parekh pointed out that "BankNifty continues to make new highs and with the positive bias remaining intact and near-term support maintained near 43400 zone, we anticipate further rise from the Banking stocks to carry the index for next targets of 45900-46000 levels. BankNifty would have the daily range of 44100-44800 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 this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.