In the previous session, Market failed to sustain its gain and closed with a minor loss of 16.10 points. The Nifty Index opened on a strong positive note and made a high near 15914 level. However, in the last trading hour we saw profit booking in the market. Technically, The Index Formed a Gravestone Doji candle with a long upper shadow on the chart which indicates indecision in the market. Sometimes this is also considered as trend reversal. Hence a highly cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Wednesday, July 07, 2021’ before the market opens.

AU Small Finance Bank Ltd

NSE :AUBANK BSE :540611 Sector : Banks

In the daily time frame, AUBANK share prices are moving in a well channelized manner. In the previous session,Stock has given a break out of the same pattern. A rising window occurred on the chart .
As seen on Band Bollinger, Prices closed above the Upper Bollinger Band which is a sign of bullishness for the coming session as long as Middle Bollinger is intact on downside.The Band Bollinger indicator basically indicates volatility in the market. It is calculated by using simple moving average and standard deviations.When volatility increases in the stock band also expands.In addition,The Relative Strength Index (RSI) on the daily chart is 63.32; it has made a new high as compared to previous one, which is bullish.

In short, the trend for AU Small Finance Bank Ltd looks to be sideways to positive. A throwback can be expected near 1090 levels.Use dips as a buying opportunity for a move towards 1185 levels as long as we do not see any closing below Middle Band Bollinger.

Check More Analysis on AUBANK at: AU Small Finance Bank Ltd