In the previous session, the Nifty index opened on a mild positive note but soon slipped into a negative territory. Later, we have seen recovery from day’s low. However, in the last hour the index again slipped into a negative zone and closed with a loss of 110 points. Technically, the index made a bearish candle on the chart. Hence, a cautious approach is advised for the day.
Look at the below research report of ‘Stocks to Buy for – Wednesday, November 17, 2021’ before the market opens.
NSE :INDUSTOWER BSE :534816 Sector : Telecomm Equipment & Infra Services
We have posted a daily chart of INDUS TOWERS. On the chart, we can see that prices have formed a ‘Symmetrical Triangle Pattern’. Stock prices were consolidating for the last few days near 298-299 levels. Now further breaking above these levels will confirm the break out. Prices are comfortably close near the Ichimoku cloud which suggest a bullish trend is intact and we can expect upside momentum to continue from support levels. The 20 EMA days Moving average is acting very well on the stock.
The short-term trend for Indus Tower Ltd. looks to be positive for now. Positions can be created above 299 levels, which can take prices towards 306 and 313 levels. On the other side, the level of 289 will act as key support for the stock.
Check More Analysis on INDUSTOWER at: Indus Towers Ltd