In the previous session, the Nifty index saw a gap down opening in the morning but rebounded at an important support level and recovered losses as the day progressed. Later, in the afternoon the market witnessed selling pressure again. The overall market witnessed volatility and the Nifty index closed with a net loss of 30 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, November 04, 2022’ before the market opens.

Dalmia Bharat Ltd

We have posted a daily chart of DALBHARAT. The pattern analysis suggests that the DALBHARAT is now above most of the key moving averages. Currently , stock has given a breakout above the short term 9 EMA line. It is moving upward towards a falling trend line resistance level. This trend line is drawn from the high point of 2199 and joins the subsequent lower top. Also, the Relative Strength Index (RSI) on the daily chart is 62, indicating bullishness.

The Overall trend for the DALBHARAT looks to be positive. Now in this scenario our first target for stock is 1736 levels where top to top trendline level presents. This outlook is valid as long as we do not see any closing below 9 EMA support.

Check More Analysis on DALBHARAT at: Dalmia Bharat Ltd