In the previous session, the Nifty index witnessed a flat opening and made a high near 17548. On the technical note, the index formed a bullish candle on the chart. The market has been showing sector and stock specific movement since the past few days. Hence, we recommend continuing to approach the markets in the same way.

 Look at the below research report of ‘Stocks to Buy for –Wednesday, August 10, 2022’ before the market opens.

Aditya Birla Capital Ltd

NSE :ABCAPITAL   BSE :540691  Sector : Finance

On the technical perspective, stock formed a Rounding Bottom formation on the daily chart. Stock price broke the pattern resistance today and closed above the same. Further breaking above previous day’s high will confirm the trend. In addition, closing above long term 100 EMA support confirmed the trend as stock closed above the line.

In short, the trend for ABCAPITAL looks to be positive for the short trend. Positions can be created around CMP 106-107, which can take prices towards 114 levels. This outlook is valid as long as we do not see any closing below 99 level. If the price will sustain above 114 levels, then we will review this stock again.

Check More Analysis on at ABCAPITAL: Aditya Birla Capital Ltd.