In the previous session, the Nifty index consolidated with a negative bias throughout the day. The Nifty index saw a flat opening and made a high near 18431. The index got stronger as the day progressed and closed with a net gain of 151 points. The Nifty formed a bullish candle on the daily chart. 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 Tuesday, December 20,2022′ before the market opens.

Snowman Logistics Ltd.

In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 5.84%. On the technical perspective, stock formed a ‘Rounding Bottom Pattern’ on the chart. As per the chart reading, a long entry signal will be triggered only above the previous day’s closing level. Prices have been giving a break above the 20 EMA which is a strong indication of a positive trend. The Relative Strength Index (RSI) on the daily chart is 65.

In short, Snowman Logistic has continued to trade in the positive zone. Positions can be created around current levels, which can take prices towards 43/47 levels. As far as we do not see any closing below 37 on the lower side. As the market looks to be volatile, use a trailing stop loss method to protect your profit.

Check More Analysis on SNOWMAN at: Snowman Logistics Ltd.