In the previous session, the market opened on a strong positive note and made a high near 15895.75. However, it came off from its high to end near its day low and closed with a net gain of 26.25 points. The index formed a Bearish candle on the chart which can be considered as a Shooting star with a small upper wick. The MACD indicator is still bearish and moving below its signal line. The market looks to be volatile in the coming session. Hence a cautious approach is advisable for the next trading day.

Look at the below research report of ’Stocks to Buy for – Wednesday, June 23, 2021’ before the market opens.

Avenue Supermarts Ltd

On the daily chart, we can see that prices have formed a ‘V- Bottom pattern’. It’s a bullish pattern that looks like the name that they are called. The best way to trade in the V-Bottom pattern is wait for the price to break the neckline of the pattern and then enter a position once price retests the neckline level. In the previous session, stock retested the higher level and closed above the neckline of the pattern with a bullish candle. We published a DMART research report on MAY 25, 2021 and predicted a positive upside momentum in the coming sessions.

Check out our previous report on Avenue Supermarts Ltd at: Stocks To Buy Today

Happened: The stock performed as expected and the target of 3170 was achieved on 3^rd June 2021.On the daily chart you can see prices still continue to follow the uptrend.

The momentum on upside remains strong. Now a move above 3410 will confirm the uptrend and open up gates for higher levels towards 3500/3700 levels. The level of 3250 remains intact on the lower side.

Check More Analysis on DMART at: Avenue Supermarts Ltd