In the previous session, the Nifty index consolidated with a negative bias. The Nifty index opened on a positive note but abolished all its gain in the very first trade. Market remained in a sideways zone throughout the day. No major recovery was seen from lows throughout the session. Technically, the Nifty Index formed a Bearish candle on the chart and closed with a minor gain of 57 points. A cautious approach is advisable for the next trading day. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for Friday, October 07, 2022’ before the market opens.

Balrampur Chini Mills Ltd.

In the daily time frame, BALRAMCHINI share prices are moving in a well channelized manner since long term. Stock prices are moving near the middle of the channel support line. A white bullish candle appeared on the daily chart. As shown on the chart stock comfortably closing above the 9 EMA on the chart which indicates short term bullishness. Also, the range of RSI also seen near 52 after the consolidation period which further confirms the bullish breakout.

In short, the trend for, BALRAMCHINI looks to be positive for now. We can expect it to reach a target of 380 levels based on our analysis. This outlook is valid as long as we do not see any closing below Channel support.

Check More Analysis on BALRAMCHINI at: Balrampur Chini Mills Ltd