In the previous session, the market witnessed volatility throughout the day. The Nifty index opened on a positive note and made high near 18162. Later we have seen some sell off from higher levels. The index formed a Doji candle on the chart and closed with a net gain of 90. Traders should be focused on sector and stock specific approach for the next trading day.

Look at the below research report of ‘Stocks to Buy for Tuesday, January 24,2023’before the market opens.

MAHINDRA & MAHINDRA Ltd.

In the daily time frame, stock has given a breakout above ‘Bullish Pennant Pattern’. It’s a continuation chart pattern which occurred in a strong uptrend. The pattern consists of two major formations called the pole and followed by the Triangle pattern. Addition, stock is above the 21 EMA on the chart which indicates short term bullishness . Relative Strength Index (RSI) on the daily chart is 62.

In short, M&M looks to be positive for the short-term view. One can initiate a buy near current price for an upside target of 1381.This outlook remains valid as long as 1304 is protected on downside.