In the previous session, the Nifty index saw a mild positive opening in the morning but soon slipped into the lowest point of the day. Later we noticed some recovery in the market. Market remained in a sideways zone throughout the day. The Index formed a Bullish Candle on the daily chart and closed with a net gain of 91 points. Due to uncertainty in global market, a cautious approach is advisable for tomorrow.

Look at the below research report of ‘Stocks to Buy for – Tuesday, September 20, 2022’ before the market opens.

SBI Life Insurance Company Ltd.

We have shown the daily chart of SBILIFE. Stock prices are moving in the Channel Pattern. In the previous session, stock formed a Bullish candle on the chart and closed with a net gain of 2.44%. Since price has taken strong support of Middle Band Bollinger on the daily chart, which suggests positive bias for the short term. The Relative Strength Index (RSI) on the daily chart is 53.

In short, one can initiate buy at current price or on dip around 1280. We can expect it to reach a target of 1350 levels. This outlook is valid as long as we do not see any closing below lower Band Bollinger.

Check More Analysis on SBILIFE at: SBI Life Insurance Company Ltd