In the previous session, the market witnessed volatility throughout the day. The Nifty index opened on a positive note and made a high near 17916.90. The Index formed a Doji Candle on the daily chart and closed with a net gain of 21.75 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

Look at the below research report of ‘Stocks to Buy for Friday, February 10,2023′ before the market opens.

Dalmia Bharat Ltd

Stock is trading near an important resistance zone with bullish candlesticks and is presently on the verge of generating a breakout above the previous swing high of 1930 level. Stock is settled above the middle Bollinger band indicating bullish strength & trend may continue in near term. The Relative Strength Index (RSI) on the daily chart is 62, which indicates bullishness.

The momentum on upside remains strong. On the above chart, we have applied Fibonacci projection, which is used to determine the price action, support and resistance levels. We can expect it to reach a target of 2088 levels which is 161.8% of Fibonacci levels. On downside stop loss can be placed below 1823 levels.

Check More Analysis on DALBHARAT at: Dalmia Bharat Ltd