In the previous session, the Nifty index saw a mild gap up opening and made a high near 17186.90 levels. The market remained in a positive territory throughout the day. Technically, the Nifty index formed a bullish candle on the chart and closed with a net gain of 177.90 points. Market will be volatile due to the weekly expiry tomorrow. Hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Thursday, April 21, 2022’ before the market opens.

Astral Ltd

NSE :ASTRAL   BSE :532830  Sector : Plastic products

On the daily chart, we can see that ASTRAL stock prices have formed a ‘V- Bottom pattern’. Stock closed with a bullish candle near the neckline of the pattern with net gain 3.13%, which indicates the bullish trend in coming sessions. In addition, prices have been giving a break above the Ichimoku cloud which is a strong indication of a positive trend. As per the daily chart, a long entry signal will be triggered only above previous days high near 2185 levels. The Relative Strength Index (RSI) on the daily chart is at 63.80.

On the above chart, we have applied Fibonacci projection, which is used to determine the price action, support and resistance levels. According to the indicator, prices can continue to move higher towards 2230 and then 2360 levels. One can maintain stop loss below 2050 levels.

Check More Analysis on ASTRAL at: Astral Ltd