In the previous session, the Nifty index bounced back after 8 days of fall. Index opened on a positive note and witnessed consolidation on the higher side throughout the day. On the technical note, the index formed a bullish candle on the chart and closed with a net gain of 146 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

Look at the below research report of ‘Stocks to Buy for Thursday, March 02,2023′ before the market opens.

Indian Energy Exchange Ltd

On the technical perspective, IEX share prices are moving above the long-term trend line on the chart. A white bullish candle appeared on the daily chart. As shown on the chart stock comfortably closed above the 50 EMA support indicates short term bullishness. In addition, the Relative Strength Index (RSI) on the daily chart is 65 indicating strength in the stock.

In short, the trend for IEX looks to be positive for now. We can expect it to reach a target of 152/166 levels based on our analysis. Add more on dips around 140 levels. This outlook is valid as long as we do not see any closing below 50 EMA levels.

Check More Analysis on IEX at: Indian Energy Exchange Ltd