In the previous session, the Nifty Index saw a deep negative opening in the morning session and extended losses as the day progressed. The index witnessed the selling pressure throughout the day and closed with a net loss of 302 points. Technically, the index formed a Doji candle on the chart. After a deep cut in the index, some recovery can be expected for the next trading day. Hence a sector and stock specific selection is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Tuesday, April 19, 2022’ before the market opens.

Den Networks Ltd

NSE :DEN   BSE :533137  Sector : Entertainment

In the daily time frame, Siemens share prices are moving above the long-term trend line on the chart. A white bullish candle appeared on the daily chart. As shown on the chart stock comfortably closed above the Ichimoku cloud indicator which indicates short term bullishness. We have shown an ADX indicator which indicates a potential in stock. As seen on the chart, +DI is above –DI and ADX value is 22.66 which indicates that there is more room available on upside for the stock.

In short, the trend for DEN looks to be positive for now. We can expect it to reach a target of 50 levels based on our analysis. Add more on dips around 41 levels. On the other side, the level of 39 will act as key support for the stock.

Check More Analysis on DEN at: Den Networks Ltd