In the previous session, the NIFTY extended its gain and made a fresh new high of 16290. The index saw a strong positive opening and remained in a positive territory throughout the day. We have seen buying in Banking and Finance sector stocks. Technically, Index formed a strong bullish candle on the chart which shows strength in the market. Hence, we recommend approaching the markets in a positive way. Use every dip as a buying opportunity to further up move.

Look at the below research report of ‘Stocks to Buy for – Thursday, August 05, 2021’before the market opens.

HDFC Asset Management Company Ltd

NSE :HDFCAMC   BSE :541729  Sector : Finance

In the last trading session, HDFCAMC stock made a high near 2939 and closed with a positive candle. Prices have entered into the Ichimoku cloud zone which is an indication of a positive trend. The up move has been supported by the base and the conversion lines as both the lines are seen rising along with price. As seen on Band Bollinger, Prices closed above the Middle Bollinger Band which is a sign of bullishness for the coming session. The Band Bollinger indicator basically indicates volatility in the market. When volatility increases in the stock, the band also expands.

The short-term trend for HDFCAMC looks to be positive for now. To continue with the up move, a break above the previous day’s high near 2940 levels is required. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 2990 and then 3038 levels as long as we do not see any closing below 2875 levels.

Check More Analysis on HDFCAMC at: HDFC Asset Management Company Ltd