33 stocks hold positive trend despite three-day 300-pt fall in Nifty50

In the last two sessions, the Nifty 50 has slipped over 300 points, or 2.58 per cent to hit 11,400 levels. However, there are few stocks that continue to hold their upward trend or have seen minor losses. 

Ajanta Pharma, Bharat Electronics, Interglobe Aviation - the parent company of Indigo, Ceat, Crompton Greaves Power, DCB Bank and Eicher Motors are among the 33 stocks in the Nifty F&O segment that still hold promise despite the three-day 300-point fall in the Nifty50 index.

Four stocks each from Nifty Pharma (comprises 10 stocks) and NiftyIT indices (comprises 10 stocks) , suggest an overall trend still favors these sectors in corrections. The recent rally has seen many stocks from NiftyIT index hit their respective 52-week high including Infosys and Wipro. Both these stocks are still trading with a positive bias even as frontline indices seem to have lost their positive sentiment. 
 

Among the IT pack, MindTree has been hitting a new high and has formed a “Golden Crossover” on the technical charts as per daily the pattern. Hexaware Technologies - though is trading below significant moving averages - a positive consolidation cannot be ruled out going ahead. Investors need to keep a tab on the current range of Rs 320 – Rs 360 levels for further cues.
 

In the Nifty Pharma index, Divi's Laboratories has outperformed by rising over 50 per cent in the last nine months. Every new high is witnessing buying interest from investors. Any correction will be seen as buying opportunity around the support level of 100 DMA at Rs 1,600.
 

Another counter, Dr. Reddy's Laboratories has seen rising channel pattern in the weekly chart. A higher-top, higher-bottom formation always indicates a positive trend. The stock is well position above 200-weekly moving averages (WMA) located at Rs 2,777. 

Here is the list of stocks trading with positive bias:-

 

STOCKS 

Ajanta Pharmaceuticals Ltd.

Bharat Electronics Ltd.

Bharti Airtel Ltd.

Bharat Petroleum Corp Ltd 

Ceat Ltd.

CG Power and Industrial Solutions Ltd.

Divi's Laboratories Ltd.

Dalmia Bharat Ltd

DCB Bank Ltd.

Dr. Reddy's Laboratories Ltd.

Eicher Motors Ltd.

Hindustan Construction Co. Ltd.

Hexaware Technologies Ltd.

Indo Count Industries Ltd.

Indraprastha Gas Ltd.

InterGlobe Aviation Ltd.

Infosys Ltd.

Jet Airways (India) Ltd.

Larsen & Toubro Ltd.

Marico Ltd.

Maruti Suzuki India Ltd.

MindTree Ltd.

MRF Ltd.

NESTLE INDIA LIMITED           

Oil & Natural Gas Corporation Ltd.

PC Jeweller Ltd.

Petronet LNG Ltd.

Power Grid Corporation of India Ltd.

Raymond Ltd.

Strides Pharma Science Ltd.

TATA COMMUNICATIONS LTD             

TVS Motor Company Ltd.

Wipro Ltd.