In the previous session, the market opened on a positive note and the Nifty index made a fresh record high near 17429. However, in the middle of the market the index saw range bound trade. Technically, The Index formed a small bearish candle on the chart at higher levels which indicates some minor corrections for the coming session. Hence, we recommend approaching the markets in a stock-specific way.

Look at the below research report of ‘Stocks to Buy for – Tuesday, September 07, 2021’before the market opens.

HeidelbergCement India Ltd

NSE :HEIDELBERG   BSE :500292  Sector : Cement

On the daily chart, we can see that HEIDELBERG stock formed a ‘V- Bottom pattern’ and closed near the neckline of the pattern. Stock witnessed a price fall near 244 levels and then a complete retracement of the bearish movement after that. Buying confirmation was made with the help of 14 days RSI which is currently placed near 56, indicates bullishness.

In Addition, prices are comfortably closed above the Ichimoku cloud and also above the middle band Bollinger on the chart which indicates short term bullishness in stock. One can initiate buy above previous day’s high near 267.50-268 levels and add more on dips around support levels near 263 levels which can take price towards 275/286. This outlook is valid as long as we do not see any closing below Middle Band Bollinger.

Check More Analysis on HEIDELBERG at: HeidelbergCement India Ltd