In the previous session, the Nifty index closed on a positive note in the Muhurat trading session. The market opened on a positive note and traded in a range bound. The Nifty index ended a short session with net gain of 87.60 points. Technically, no specific candle formed in the index .Hence, we recommend continuing to approach the markets in a stock-specific way.

Look at the below research report of ‘Stocks to Buy for -Monday, November 08, 2021’ before the market opens.

ACC Ltd

In the daily time frame, Acc Ltd. share prices are moving in the form of the ‘Double Bottom’ pattern. Higher highs and higher lows formation was formed from past few trading sessions. The important thing to witness is that the stock is showing positive divergence with the RSI indicator. The positive divergence happens when the stock prices make lower lows but at the same time indicator makes higher lows. As shown on the chart, price went down but the RSI indicator is going towards upside which indicates positive momentum. Since price has taken strong support of 100 EMA which suggests positive bias for the short term.

In short, one can initiate buy at current price and add more on dips around support levels near 2365 levels. We can expect it to reach a target of 2470/2510 levels. This outlook is valid as long as we do not see any closing below 2310 level.

Check More Analysis on ACC at: ACC Ltd