Shares to buy – Tuesday 20 September 2022
In the previous session, the Nifty index saw a modest positive opening in the morning but soon slipped to the lowest point of the day. Later we saw some recovery in the market. The market remained in the sideways zone throughout the day. The index formed a Bullish Candle on the daily chart and closed with a net gain of 91 points. Given the uncertainty in the global market, a cautious approach is recommended tomorrow.
Check out the “Stocks to Buy – Tuesday, September 20, 2022” research report below before the market opens.
SBI Life Insurance Company Ltd.
We have shown the SBILIFE daily chart. Stock prices move according to Channel Pattern. In the previous session, the stock formed a bullish candle on the chart and closed with a net gain of 2.44%. As the price has received strong Middle Band Bollinger support on the daily chart, indicating a positive bias in the short term. The relative strength index (RSI) on the daily chart is 53.
In short, buying can be initiated at the current price or a drop around 1280. We can expect it to reach the target of 1350 levels. This outlook is valid until we see any close below the lower Bollinger band.
. TCS
Even though TCS is falling due to global sentiments as it is an IT company, yesterday on 19th September we saw buying pressure on the stock so we can go long on 20th September if it goes above 3042.50 level for a target of 3100 in the coming days.
2. JSW Steel
JSW Steel is looking week on the charts as it will fall whenever it tries to touch the 700 level. For September 20, we can expect the stock to decline once it gets below the 676 level for a target of 670.
3. Titan
On September 19, we can see on the sign that Titan went below 2550 from the open, which is about 50 to 70 points, but recovered during the day to close at 2627.80. For September 20, the stock may rise further once it breaks above the 2632 level all the way to the 2650 level.
4. DIVISLAB
Divis Lab is also at a perfect level to buy once it crosses 3632. A target of 3700 can be set in the coming days after the breakout.
5. ITC
Once again after a long period ITC is on the top and ready for breakout. One can take a buying position after crossing 337.10 for target of 4-5 points.
6. HINDUNILVR
Hindustan Unilever has positive momentum. One can take a buying trade from 2589 for the target of 2600 and more.
7. TATA CHEMICALS
TATA Chemical can be considered for buying if it moves above the level of 1117.60 for the target of 1150.
8. HINDALCO
Hindalco is was in the range bound area since so many days but yesterday it gave breakout but it looks like the break out may fail and stock will start it up movement.
One can look for buying if the stocks moves above the level of 416.
9. BAJFINANCE
Bajaj Finance is currently at break out stage. If we look at the chart we can see that it has made the chart pattern of cup. Long build up can be seen after the break out. We may expect the levels of 7750 and 8000 in upcoming period.
