In the previous session, the nifty ended with minor gains after a volatile session because investors were nervous ahead of the US Federal Reserve Policy which is due on Wednesday. The index opened a gap up but soon slipped into a negative territory. Post that the Nifty index gradually recovered some losses . The Index formed a Doji Candle with a long lower wick on the daily chart and closed on a flat note. Tomorrow the market will remain volatile due to Union Budget announcements. Hence, traders should be focused on Sector and stock specific strategy.

 Look at the below research report of ‘Stocks To Buy Stocks to Buy for Wednesday, February 01,2023’ before the market opens.

BEML Ltd.

BEML has witnessed a breakout of multi-month-long trendline on the daily chart. In the previous session, stock formed a bullish candle on the chart and closed with a net gain of 5.24%. The stock is well placed above its key averages 20, 50, 100 and 200 day EMA and sustaining above the same indicating positive bias. The daily strength indicator RSI is in bullish mode and moving around 58 levels.

With the risk reward ratio favorable and chart looking good. Positions can be created around CMP levels, which can take prices towards 1575/1670 level. On the other side, the level of 1448 will act as key support for the stock.

Check More Analysis on BEML at: BEML Ltd.