In the previous session, the Nifty index consolidated with a positive bias throughout the day. The Nifty index saw a positive opening and made a high near 17800 level. On the technical note, the index formed a Doji candle on the chart and closed with a net gain of 117.10 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

Look at the below research report of ‘Stocks to Buy for Wednesday, March 08,2023′ before the market opens.

Pidilite Industries Ltd

In the daily time frame, Stock is moving in the form of an ‘Double Bottom Pattern’. Recently, stock has given a breakout from the upper resistance line on the chart .In the last session, stock retested the same level with positive momentum but didn’t close above the break out zone. In addition, the Relative Strength Index (RSI) on the daily chart is 50 indicate strength in the stock.

In a Nutshell, the trend for PIDIILITIND looks to be positive now. A break above 2353 levels which could take prices toward 2418 or higher levels. This outlook is valid as long as 9 EMA support remains protected on downside.

Check More Analysis on PIDILITIND at: Pidilite Industries Ltd