In the previous session, the Nifty index opened on a slight positive note and made a day high, later it witnessed a consolidation in a narrow range. However, in the last hour of the market the index again slipped into the negative zone. Technically, The Index formed a bearish candle on the chart and closed with a net loss of 33.50 points. The market looks to be volatile in the coming session. Hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Friday, April 01, 2022 ‘ before the market opens.

Tata Consumer Products Ltd

NSE :TATACONSUM   BSE :500800  Sector : Plantation & Plantation Products

In the last trading day, stock formed a bullish candle on the daily chart. We can see the ‘Inverted Head and shoulder Pattern’ has formed. This pattern is associated with a reversal of a downward trend in price. The right shoulder has been completed near 780-782 levels. Stock is now quoting near the neckline of the pattern. A pullback can be expected near the support. As per pattern theory, 122 points movement on upside can be expected in coming days.  Also, Stock is comfortably closed above the 200 EMA support which confirms the bullish trend.

 In short, the trend for TATACONSUM looks to be positive now. A throwback can be expected near 750 levels. Use dips as a buying opportunity for a move towards 902 levels as long as we do not see any closing below 728 levels.

Check More Analysis on TATACONSUM at: Tata Consumer Products Ltd