Top Nifty 500 stocks based on the CANSLIM method

These days markets have turned unpredictable and volatile which can be attributable to various global as well as local events. In this article, we listed the top Nifty 500 stocks based on CANSLIM method.

On April 25, 2022, Nifty 50 declined sharply for the second consecutive session amid fears revolving around the impact on the global economy due to the spread of Covid-19 in China. At the end of the trading session, the benchmark index closed at 16,954, down by 1.27%.

Nifty 50 slides with the gap-down on April 25, 2022, but took support on its 200-Day Exponential Moving Average (EMA) at 16,878 level. If the index ends below this level would likely lead to more weakness for the Nifty 50. In the short-term, the 17,000 to 17,300 range could act as a strong resistance band. The advance-decline ratio of the broader market is the worst since March 7, 2022.

In such a scenario, it makes complete sense to invest in stocks that are not just fundamentally, but also technically strong and CANSLIM method helps you in this regard.

CANSLIM is a method of screening growth stocks by combining fundamental as well as technical analysis techniques. This system was developed by Investor's Business Daily founder William J. O'Neil. The abbreviation is sometimes written as CAN SLIM. CAN SLIM stands for

C – current quarterly earnings, 

A – annual earnings, 

N – new product, service, or management, 

S – supply and demand, 

L – leaders or laggards, 

I – institutional ownership, and 

M – market direction.