In the previous session, the Nifty Index saw a gap up opening and managed to sustained above 17700 level throughout the day. The index made a high near 17807 level and closed with a net gain of 174 pts. The price action will remain volatile; hence a stock specific approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Friday, September 09, 2022’ before the market opens.

The Ramco Cements Ltd

On the daily chart, we can see that RAMCOCEM Stock prices have formed a ‘V- Bottom pattern’. In the previous session, stock retested the higher level and closed above the neckline of the pattern with a bullish candle. A pullback was seen in the stock after a V bottom formation. The best way to trade in this pattern is wait for the price to break the neckline of the pattern and then enter a position once price retests the neckline level again. The Relative Strength Index (RSI) on the daily chart is 64.17.

In short, RAMCOCEM has continued to trade in the positive zone. Now a move above 790 will confirm the uptrend and open up gates for higher levels towards 820/880. As far as we do not see any closing below 745 on the lower side.

Check More Analysis on at RAMCOCEM: The Ramco Cements Ltd