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 loss of 124 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, September 16, 2022’ the market opens.

Granules India Ltd

In the daily time frame, share prices are moving in the form of the ‘Symmetrical Triangle’ pattern. As shown on the chart, prices is moving above the neckline of the pattern. A white bullish window appeared on the daily chart. As per pattern theory, 42 points movement on upside can be expected in coming days. Stock comfortably closed above the 9 days EMA support which indicates short term bullishness.

In short, Granules chart looks attractive, one can initiate buy at current levels and add more on dips around break out levels near 313-314 levels which can take price towards 355 levels. This outlook is valid as long as we do not see any closing below 295 levels.

Check More Analysis on GRANULES at: Granules India Ltd