Stocks to Buy: Why Tata Steel and Wipro look attractive for short term

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Nifty has started the September series on a bullish note, as the index has moved above the 21EMA for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment.

Looking at the higher end of the spectrum, there is now a resistance level at 19,530 points. If the Nifty manages to breach this resistance, it could signal a continuation of the uptrend. On the lower end, there is strong support at 19,340 points.

Bulls have regained strength and successfully defended the crucial support zone of 44,000 - 43,800. This area also witnesses fresh put writing, indicating strong support.The next immediate hurdle for the index is positioned at 44,500. A successful breakout above this level is likely to trigger a fresh upward movement.The overall sentiment and undertone in the Bank Nifty Index remain bullish, as long as the mentioned support levels of 44,000 - 43,800 are held on a closing basis.

Wipro's daily chart shows the formation of a symmetrical triangle pattern, indicating a period of consolidation. This pattern is accompanied by lower trading volumes, suggesting a potential breakout in the near future.The momentum indicator RSI (Relative Strength Index) has given a positive crossover, confirming a buy signal. This suggests that bullish momentum may be building in the stock.A significant support level is observed at 405, indicating that this level has held as a floor for the stock's price.