In the previous session, The Nifty Index saw a gap down opening in the morning session due to global uncertainties and slipped below the psychological support of 17000. However, in the second half we saw 100 points recovery from lower levels in the market. The Index formed a Bearish Doji candle on the chart and closed with a net loss of 162.40 points. A cautious approach is advised for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Thursday, April 28, 2022’ before the market opens.

Aditya Birla Capital Ltd.

NSE :ABCAPITAL   BSE :540691  Sector : Finance

On the daily chart, we can see that ABCAPITAL Stock prices have formed a ‘Inverted Head & Shoulder pattern’. In the previous session, stock retested the higher level and closed above the neckline of the right shoulder of the pattern with a strong bullish candle. As per pattern theory, 28 points movement on upside can be expected in coming days. The Relative Strength Index (RSI) on the daily chart is 64.86.As seen on Band Bollinger, Prices are comfortably closed above the Middle Bollinger Band which is a sign of bullishness for the coming session.

In short, ABCAPITAL has continued to trade in the positive zone. Now a move above previous day high above 122 will confirm the trade and open up gates for higher levels towards 139/150. As far as we do not see any closing below 107.50 on the lower side.

Check More Analysis on ABCAPITAL at: Aditya Birla Capital Ltd