In the previous session, the NIFTY extended its gain in yet another day and made a high near 17344 levels. The markets opened on a gap up note and maintained its positive gain throughout the day. Technically, the Nifty index formed a strong bullish candle on the chart and closed with a net gain of 311.70 points.17318 level is a key resistance point for the Index now, which is 61.8% retracement level of Fibonacci series.  Hence a cautious approach is advisable for the next trading day. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Monday, March 21, 2022’ before the market opens.

Aarti Industries Ltd

NSE :AARTIIND   BSE :524208  Sector : Chemicals

In the last trading day, stock formed a strong bullish candle on the daily chart. Stock made a Higher highs and Higher lows formation compared to the previous closing. The Parabolic dots are moving below the prices which indicates that stock is now in uptrend. This indicator is most useful in terms of Entry and Exit levels in any stocks for trading purposes. We have plotted the Fibonacci Retracement indicator. Stock is now quoting above 23.6% of retracement level. Also, Stock is comfortably closed above the 20 EMA support which confirms the bullish trend.

In short, the trend for AARTIIND looks to be positive now. A throwback can be expected near 860-862 levels. Use dips as a buying opportunity for a move towards 911/950 levels as long as we do not see any closing below 818 levels.

Check More Analysis on AARTIIND at: Aarti Industries Ltd