In the previous session, the Nifty index opened on a gap up note and made a high near 18022 level. Later we saw consolidation on the higher side throughout the day. The Index formed a Bullish Candle on the daily chart and closed with a net gain of 225.40 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 Tuesday, November 01, 2022’ before the market opens.

Deepak Nitrite Ltd

NSE :DEEPAKNTR   BSE :506401  Sector : Chemical

As shown on the daily chart, DEEPAKNTR formed a strong bullish candle. The stock has decisively broken the ‘Cup and Handle Pattern’ and closed above the neckline of the pattern. Prices made a triangle pattern in the form of a handle. This pattern is considered one of the key signs of bullish continuation, used to identify as a buying opportunity. The important thing to witness is that stock closed above the Middle Bollinger band which indicates positive momentum in coming days.

In short, the trend for DEEPAKNTR looks to be positive. A throwback can be expected near 2295 levels. Use dips as a buying opportunity for a move towards 2400/2485 levels as long as 2220 level holds on the downside.

Check More Analysis on DEEPAKNTR at: Deepak Nitrite Ltd