Recommended stocks to watch: Top eight stock picks by market experts for 10 March

Subscribe to enjoy similar stories. This newspaper stock after undergoing lot of volatility and the Q3 results were found stable and the inability of the bears to drag it lower in this uncertain market speaks well for a strong rounding pattern breakout as buying momentum got built. After biding some time and absorbing the volatility we can look at the prices looking to extend next week.

The steady upward bounce has pushed the RSI above 70 indicating the trends could sustain beyond the value area resistance around 225. There has been some steady buying at lower levels as the momentum tried to revival the prices from lower levels. With the cloud region offering some upward thrust the possibility of the counter showing a bullish bias has gone up.

Now with the steady upward bias in last few days with the dip into the Ichimoku Bands attracting some buying interest in the last week highlighting some steady resolve to the way up. Buy. Pharma stocks are under pressure and the fall seen in the last few weeks in this counter , there has been a strong rebound in the last month indicating that the bullish momentum could extend.

The long body shown at the end of the last rise on Friday suggests that there is more rise possible. The attempt to move higher post the consolidation presents a strong case of bullishness. As Relative Strength Index (RSI) is already showing rebound from 60 levels , we can look to trade long in this counter.

Also read: Can Adani Wilmar’s FMCG bet deliver long-term gains? On the lower time frame, the stock has given a rectangle breakout. Additionally, the RSI is above 60, indicating bullish momentum. The stock is also trading with gaps, so I expect these gaps to be filled in the next few day.