In the previous session, the Nifty Index saw a flat opening in the morning session and made high near 17838. However, the market gave up all intraday gains. Technically the Nifty Index formed a Doji candle on the chart and closed with a net gain of 50 pts. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Monday, October 31, 2022’ before the market opens.

Apollo Hospitals Enterprise Ltd

We have posted a daily chart of APOLLOHOSP. In the chart, we can see that the price has given a breakout above ‘Ascending Triangle Pattern’. As per the daily chart, a long entry signal was triggered in the previous session. Stock formed a Strong Bullish candle on the chart and closed with a net gain of 2.62%. The Relative Strength Index (RSI) on the daily chart is 64 which indicates bullishness. In addition, 9 EMA support is working very well for the stock.

In short, one can initiate buy at current price and add more on dips around support levels near 4490 levels. We can expect it to reach a target of 4600/4700 levels. This outlook is valid as long as we do not see any closing below 4415 level.