In the previous session, the Nifty index saw a gap down opening in the morning due to global weakness and soon slipped into the lowest point of the day. However, the Index recovered some losses in the very first hour. Later, in afternoon the market witnessed selling pressure again. The overall market witnessed volatility and the Nifty index closed with a net loss of 73.65 points.Due to uncertainty in global market, a cautious approach is advisable for tomorrow.

Look at the below research report of ‘Stocks to Buy for Monday, October 10, 2022’ before the market opens.

Tata Chemicals Ltd.

In the daily time frame, TATACHEM share prices are moving in the form of Impulse wave pattern. As per Elliott wave theory, there is a clear impulse rise as shown on the daily chart and the stock is currently moving in the form of wave 3. Prices rebounded from key support level and currently moving above swing highs. In the previous session stock formed a bullish candle on the daily time scale and closed with a net gain of 1.45%.

As the chart looks attractive, one can initiate buy and accumulate this stock near current levels. Add more on dips around 1185 levels. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 1230/1283 levels as long as we do not see any closing below 1129 levels.

Check More Analysis on TATACHEM at: Tata Chemicals Ltd