In the previous session, the Nifty index saw a gap up opening. The index got stronger as the day progressed and closed with a net gain of 90.10 points. The Nifty formed a 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 Wednesday, April 13,2023‘ before the market opens.

Torrent Pharmaceuticals Ltd.

On the Daily chart of TORNTPHARMA, we are seeing the inverse Head and Shoulder pattern which indicates the reversal of a downward trend in price action. Prices have given a breakout above the neckline after the right shoulder has completed near 1565 levels. A Bullish white body appeared on the candle as well as prices are taking support from 50 days Moving average.

In short, trend for TORNTPHARMA looks to be positive for now. As prices have decisively broken above 1565 level, we can expect it to reach a target of 1617/1684 based on our analysis. This outlook is valid as long as 1532 remains protected on downside and any pullback near breakout zone should be utilized as buying opportunity.

Check More Analysis on at TORNTPHARMA: Torrent Pharmaceuticals Ltd.