In the previous session, the market witnessed consolidations throughout the day. The Nifty index saw a negative opening but gradually recovered some losses. The Index formed a Doji Candle on the daily chart and closed with a net loss of 57 points. On the technical note, Nifty managed to close above Middle Band Bollinger on the chart, indicates strength in the market. 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, January 20,2023’ before the market opens.

Shree Cement Ltd

TITAN stock prices are moving in the form of ‘Ascending Triangle Pattern’ in an ongoing trend. The ascending triangle is a bullish continuation pattern and consists of a rising lower trend line and a flat upper trend line which acts as resistance. The higher lows formation shows that the buying pressure has increased. In the previous session, stock retested the same level with positive momentum and managed to close near the break out levels. A move above 24000 will indicate the fresh buying in the stock.

In addition, the Relative Strength Index (RSI) on the daily chart is 59 which indicates bullishness. In short, the trend for SHREE CEMENT looks to be positive now. One can initiate a buy above 24000 for an upside target of 25600. This outlook remains valid as long as 23800 is protected on downside.

Check More Analysis on SHREE CEMENT at: Shree Cement Ltd