In the previous session, the Nifty index saw a positive opening and made a high near 17490 levels. The Index slipped into negative territory. Till the middle of the session, the index saw more selling pressure. On the technical note, the index formed a bearish candle on the chart. Market looks to be volatile for tomorrow, hence a cautious approach is advised for the next trading session.

Look at the below research report of ‘Stocks to Buy for Thursday, October 20, 2022’before the market opens.

V-Guard Industries Ltd.

V- GUARD stock prices are moving in the form of ‘Ascending Triangle Pattern’ in an ongoing trend. The ascending triangle is a bullish continuation pattern and consists of a rising lower trend line and a flat upper trend line which acts as resistance. The higher lows formation shows that the buying pressure has increased. In the previous session, stock has given a breakout from the upper resistance line on the daily chart.

In addition, the Relative Strength Index (RSI) on the daily chart is 60 which indicates bullishness. In short, the trend for V-GUARD looks to be positive now. One can initiate a buy above 255 for an upside target of 270. This outlook remains valid as long as 242 is protected on downside.

Check More Analysis on V-GUARD at: V-Guard Industries Ltd