In the previous session, the Nifty index consolidated with a negative bias. The Nifty index opened on a positive note but abolished all its gain in the very first trade. Market remained in a sideways zone throughout the day. No major recovery was seen from lows throughout the session. Technically, the Nifty Index formed a Doji candle on the chart and closed on a flat note. A cautious approach is advisable for the next trading day. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for Thursday, August 11, 2022’ before the market opens.

NCC Ltd

NSE :NCC   BSE :500294  Sector : Construction

We have shown a daily chart of NCC LTD. As per chart analysis, stock prices are currently trading above the Ichimoku Cloud zone. We can see that Stock prices have formed a ‘V- Bottom pattern’. It is a continuation chart pattern, in which we can see that upward price action after a sharp V shape recovery in the stock. In addition, The Relative Strength Index (RSI) on the daily chart is 72 and it is moving above previous high.

In short, one can initiate buy at current price and add more on dips around support levels near 63-64 levels. We can expect it to reach a target of 72 level. This outlook is valid as long as we do not see any closing below 59 level.

Check More Analysis on NCC at: NCC Ltd