In the previous session, the market saw a gap up opening and got stronger as the day progressed. The Nifty index made a day high near 17223.85 and closed with a net profit of 246.85 points. On the technical note, the index formed a bullish candle on the chart. 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 – Wednesday, April 27, 2022’ before the market opens.

Hero MotoCorp Ltd.

NSE :HEROMOTOCO   BSE :500182  Sector : Automobile

In the daily time frame, share prices are moving in the form of the ‘Symmetrical Triangle’ pattern. As shown on the chart, prices have given a breakout above the neckline in the previous session. A white bullish window appeared on the daily chart. As per pattern theory, 350 points movement on upside can be expected in coming days. Stock comfortably closed above the 21 days EMA support which indicates short term bullishness.

In short, Hero MotoCorp Ltd. chart looks attractive, one can initiate buy at current levels and add more on dips around support levels near 2333 levels which can take price towards 2683 levels. This outlook is valid as long as we do not see any closing below the neckline of the pattern near 2242 levels.