In the previous session, the market opened on a flat note but soon slipped into a negative territory. The Nifty Index filled the gap and rebound from the exact level of 17000. Post that, the index got stronger as the day progressed and closed with a net gain of 197.90 points. Technically, the index formed a bullish candle on the chart and sustained above the 200 DMA support which indicates strength is the market. 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, March 23, 2022’ before the market opens.

Birlasoft Ltd

NSE :BSOFT   BSE :532400  Sector : IT – Software

We have posted a daily chart of BSOFT. We can see that the price has formed a ‘V-Bottom Pattern’. It is a continuation chart pattern, in which we can see that upward price action after a sharp V shape recovery in the stock. A pullback was seen in the stock after a V bottom formation. In the previous session, Prices have formed a strong Bullish candle on the chart and closed above the neckline of the pattern. In addition, The Relative Strength Index (RSI) on the daily chart is 58 and it is moving above previous high.

The momentum on upside remains strong for Birlasoft Ltd. Positions can be created near current levels, which can take prices towards 518 levels. This outlook is valid until we don’t see any closing below 432 level.

Check More Analysis on BSOFT at: Birlasoft Ltd