In the previous session, market had a corrective move with a negative bias throughout the day. Nifty index opened on a positive note but soon slipped into negative territory. No major recovery was seen from lows throughout the session. On the technical note, Nifty managed to close above 18085 level, which is exact support of Fibonacci retracemnet level. Now a break below this level will indicate more weakness in the market.

Look at the below research report of ‘Stocks to Buy for Friday, December 23,2022’ before the market opens.

Lupin Ltd.

We have shown the chart of LUPIN Ltd. Stock prices are moving in the form of Channel Pattern. In the previous session, stock formed a Bullish candle on the chart and closed with a net gain of 2%. Since price has taken strong support of 50 EMA on the daily chart, which suggests positive bias for the short term.

Hence, we recommend buying stock around the 765-766 levels. For the short term target of 800 in the next few trading sessions. On any weakness in the market, If stock slips below 50 EMA support we need to review the technical setup and chart structure.

Check More Analysis on LUPIN at: Lupin Ltd.