In the previous session, the Nifty index saw a gap up opening. The index got stronger as the day progressed and closed with a net gain of 158 points. The Nifty formed a strong bullish candle on the daily 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 Wednesday, February 15,2023’ before the market opens.

ITC Ltd.

In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 3.27%. As per the chart reading, a long entry signal was triggered in the previous day’s session. Prices have been giving a break above the previous swing high level. Stock currently settled above 161.8% of fibo levels, which is a strong indication of a positive trend.

In short, the trend for ITC Ltd. looks to be positive for now. Positions can be created only above 383 levels, which can take prices towards 401/419 levels. For the near term, 20 EMA has now become a temporary immediate support for the stock.

Check More Analysis on ITC at: ITC Ltd.