In the previous session, the market witnessed a range bound trade. The Nifty index opened on a positive note and made a fresh new high near 16712. However, in the middle of the market the index saw profit booking from higher levels. Technically, The Index formed a small bearish candle on the chart and closed with a minor gain of 10 points. Due to derivative expiry day, stock specific approach is advisable for the next trading session.

Look at the below research report of ‘Stocks to Buy for – Thursday, August 26, 2021’ before the market opens.

Venkys (India) Ltd

NSE :VENKEYS   BSE :523261  Sector : Miscellaneous

 On the grounds of the Indian government announcing to import 12 lakh tones of GM soya cake, we have seen buying in poultry stocks. Among the major poultry stocks Venky’s, the technical chart is looking attractive for further up move. Stock formed a strong bullish candle on the chart. Stock prices are moving in Higher highs and Higher lows patterns since the last two trading sessions. As shown on the chart stock comfortably closed above the middle band of Bollinger Band indicator which indicates short term bullishness.

The short-term trend for VENKEYS looks to be positive for now. Positions can be created above previous day high i.e., above 2980 levels, which can take prices towards 3180 and 3360 levels. On the other side, the level of 2600 will act as key support for the stock.

Check More Analysis on VENKYS at: Venkys (India) Ltd