In the previous session, Nifty ended 27 points higher after a choppy market. The Nifty index opened on a negative note but recovered from its losses as the day progressed. The index is struggling to sustain above 17600 level. A move above this level will resume uptrend again. On the technical note, the index formed a bullish candle on the chart. Hence, we recommend approaching the markets in a positive way. 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 25, 2022’ before the market opens.

Hindustan Copper Ltd.

NSE :HINDCOPPER   BSE :513599  Sector : Non Ferrous Metals

In the daily time frame, stock is moving in the form of an ‘Inverted Head & shoulder’ pattern. The right shoulder completed near 118 level. A break above 118 will confirm the trend. Stock formed a strong bullish candle in the previous session. As per Head and Shoulder pattern theory, 28 points rally is expected from the neckline support of the right shoulder The 9 days Moving average is acting very well on the stock. In addition, the Relative Strength Index (RSI) on the daily chart is 71 indicating strength in the stock.

In short, HINDCOPPER looks to be positive for the medium-term view. One can initiate a buy above 118 for an upside target of 147. This outlook remains valid as long as 108 is protected on downside.

Check More Analysis on HINDCOPPER at: Hindustan Copper Ltd.