In the previous session, the Nifty index opened on a strong positive note and made high near 17477 levels. The market remained in a positive territory throughout the day. Technically, the Nifty index formed a bullish candle on the chart which indicates strength in the market. Hence, we recommend approaching the markets in a positive way.

Look at the below research report of ‘Stocks to Buy for – Thursday, February 10, 2022’ before the market opens.

PVR Ltd

NSE :PVR   BSE :532689  Sector : Entertainment

On the daily chart, we can see that PVR Stock prices have formed a ‘Inverted Head & Shoulder pattern’. In the previous session, stock retested the higher level and closed near the neckline of the right shoulder of the pattern with a bullish candle. The best way to trade in this pattern is wait for the price to break the neckline of the pattern and then enter a position once price retests the neckline level again. As per pattern theory, 300 points movement on upside can be expected in coming days. The Relative Strength Index (RSI) on the daily chart is 69.27; which indicates bullishness. The 20 EMA days Moving average is acting very well on the stock

In short, PVR has continued to trade in the positive zone. Now a move above previous day high above 1663 will confirm the trade and open up gates for higher levels towards 1950. As far as we do not see any closing below 1477 on the lower side.

Check More Analysis on PVR at: PVR Ltd