In the previous session, the Nifty index opened a gap up but soon slipped into a negative territory. Post that the Nifty index gradually recovered all its losses. The index got stronger as the day progressed and closed with a net gain of 114.20 points. A bullish candle appeared on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

 Look at the below research report of ‘Stocks to Buy for –Monday, July 24, 2022’ before the market opens.

Dalmia Bharat Ltd.

We have posted a weekly chart of DALBHARAT. We can see that the price has formed a ‘Falling Wedge’.  It is a continuation pattern formed when price bounces between two downward sloping, converging trend lines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend. Here this pattern has breakout and gives a signal to go up. Stock formed a Bullish candle on the chart and closed with a net gain of 3.62% in the previous session. Stock comfortably closed above the 50 days EMA support which indicates short term bullishness.

The momentum on upside remains strong for DALBHARAT. As it gives breakout of the falling wedge pattern hence we can expect it to reach a target of 1654/1800 levels .On downside stop loss can be placed below 1400 level.

Check More Analysis on DALBHARAT at: Dalmia Bharat Ltd