In the previous session, Market had a corrective move with a negative bias throughout the day. The Nifty index opened on a positive note but soon slipped into negative territory. No recovery was seen in the market today. The Index formed a Bearish candle on the chart and closed with a net loss of 91.65 points. Due to weekly expiry, a cautious approach is advised for tomorrow.

Look at the below research report of ‘Stocks to Buy for –Thursday, July 14, 2022’ before the market opens.

Voltas Ltd.

NSE :VOLTAS   BSE :500575  Sector : Consumer Durables

In the daily time frame, share prices are moving in the form of the ‘Symmetrical Triangle’ pattern. As shown on the chart, prices have given a breakout above the neckline in the previous session. A white bullish window appeared on the daily chart. As per pattern theory, approx. 120 points movement on upside can be expected in coming days. Stock comfortably closed above the 21 days EMA support which indicates short term bullishness.

In short, Voltas chart looks attractive, one can initiate buy at current levels 984 and add more on dips around support levels near 975 levels which can take price towards 1096 levels. This outlook is valid as long as we do not see any closing below 958 levels.