In the previous session, the Nifty Index saw a gap down opening in the morning session. The index rebounded at an important support level and recovered all losses as the day progressed. Later we saw consolidation with positive bias throughout the day. The Index formed a Bullish Candle on the daily chart and closed with a net profit of 68 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 Friday, December 30,2022’ before the market opens.

TVS Motor Company Ltd

In the daily time frame, the stock is moving in the form of a ‘Megaphone Pattern’. The pattern consists of minimum two higher highs and two lower lows. When the price moves outside the pattern, a breakout is confirmed. Stock has consolidated between 1074-998 levels in the past few days which creates a Megaphone pattern on the chart. As shown on the graph, TVSMOTOR has given a breakout above the neckline of the said pattern

In short, the TVSMOTOR chart looks attractive, one can initiate buy at current levels and add more on dips around break out levels near 1080 which can take price towards 1178 levels. This outlook is valid as long as we do not see any closing below 20 EMA support.

Check More Analysis at TVSMOTOR : TVS Motor Company Ltd