In the previous session, the markets opened on a strong positive note and remained in a positive territory throughout the day. The Nifty index made a day high near 17750 and closed with a net profit of 159 points. Technically, the index formed an Island Bottom on the chart with a promising bullish candle which indicates that only a break above previous day’s high will confirm the uptrend. The market has been showing sector and stock specific movement since the past few days. Hence, we recommend continuing to approach the markets in the same way.

Look at the below research report of ‘Stocks to Buy for – Tuesday, October 05,2021’ the market opens.

Marksans Pharma Ltd.

NSE :MARKSANS   BSE :524404  Sector : Pharmaceuticals

On the daily chart, we can see that MARKSANS stock prices have formed a small ‘Double Bottom’ pattern and are currently placed near the Neckline resistance zone. Previous day’s candle confirmed the trend as a rising window occurred on the chart. Stock took an exact support of 200 EMA which is a sign of bullishness for the coming session.

We have shown an ADX indicator which indicates a potential in stock. As seen on the chart, +DI is above –DI and ADX value is 27 which shows strength in the trend. Also, the Band Bollinger indicator is acting very well in stock.

In short, Marksans Pharma looks to be positive now. Break above 75 levels will confirm the trend and could take prices towards 79/86 levels. This view is valid as long as 67.50 stays protected on downside.

Check More Analysis on MARKSANS at: Marksans Pharma Ltd.