In the previous session, the Nifty index saw a positive opening and made a high near 15628 levels. The Index slipped into negative territory. Till the middle of the session, the index saw more selling pressure. Later we have seen a remarkable recovery in both indices. On the technical note, the index formed a bullish candle on the chart. The market has been showing sector and stock specific movement since the past few days. Hence, we recommend continuing to approach the markets in the same way.

Look at the below research report of ‘Stocks to Buy for – Friday, June 24, 2022’ before the market opens.

PVR Ltd.

NSE :PVR   BSE :532689  Sector : Entertainment

In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 1.39%. On the technical perspective, stock formed a ‘Double Bottom Pattern’ on the chart. As per the chart reading, buy positions can be created above the previous day’s closing level. Prices have been giving a break above the Ichimoku cloud which is a strong indication of a positive trend. The Relative Strength Index (RSI) on the daily chart is 56.

In short, PVR Ltd has continued to trade in the positive zone. Now a move above previous day’s closing near 1820 will confirm the continuation of the uptrend and open up gates for higher levels towards 1930/2000 levels. As far as we do not see any closing below 1666 on the lower side. As the market looks to be volatile, use a trailing stop loss method to protect your profit.