In the previous session, the market witnessed volatility throughout the day. The Nifty index saw a positive opening and made a high near 17925 levels . In afternoon the market witnessed selling pressure again. On the technical note, the index formed a Bearish candle on the chart and closed on a flat note. A cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Wednesday, February 22,2023′ before the market opens.

Indiamart Ltd.

In the daily time frame, INDIAMART Futures share prices are moving in a well channelized manner since long term. Stock prices are moving near the channel resistance line. Stock comfortably closing above 9 EMA support from past few days which indicates short term bullishness. Also, the range of RSI also seen near 60 after the consolidation period which further confirms the bullish breakout.

In a Nutshell, the trend for INDIAMART futures looks to be positive now. A close above 4830 levels which could take prices toward 5290 or higher levels. This outlook is valid as long as 9 EMA support remains protected on downside.

Check More Analysis on INDIAMART at: Indiamart Ltd.