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In the previous session, Indices ended higher for the forth consecutive day with strong momentum. The Nifty index saw a negative opening but gradually recovered all its losses. The index got stronger as the day progressed and closed with a net gain of 50 points. The Nifty formed a strong bullish candle on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.
Look at the below research report of ‘Stocks to Buy for Tuesday, November 29, 2022’ before the market opens.
Apollo Tyres Ltd.
In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 6.65%. As per the chart reading, a long entry signal was triggered in the previous day’s session. Prices have been giving a break above the swing high level which is a strong indication of a positive trend. The Relative Strength Index (RSI) on the daily chart is 66.
In a Nutshell, the trend for APOLLOTYRE looks to be positive now. A pull back can be expected near 305 level. Use dips as a buying opportunity for a move towards 329 levels as long as we do not see any closing below 287 levels.
