In the previous session, market saw a negative opening in the morning session. Market remained in a negative territory throughout the day. No major recovery was seen from lows throughout the session. Technically, the Nifty Index formed a strong bearish candle on the daily chart indicating further selling pressure on market .Hence a cautious approach is advisable for next trading session.

 Look at the below research report of ‘Stocks to Buy for Friday, January 27,2023’ before the market opens.

V I P Industries Ltd

In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 2.54%. As per the hourly chart reading, a long entry signal was triggered in the previous day’s session. Since price has managed to sustain above 9 EMA which suggests positive bias for the short term.

In short, VIP Industries Ltd chart looks attractive, one can initiate buy at current levels and add more on dips around break out levels near 705-706 levels 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 747 levels . On downside stop loss can be placed below 683 levels.

Check More Analysis on VIPIND at: V I P Industries Ltd