In the previous session, Market opened on a flat note but in the very first hour we noticed some corrections. The Nifty Index continued drifting lower and closed in a negative territory with net loss of 101.70 points. Technically, Index formed a bearish candle on the chart, also a negative divergence was seen with MACD indicator which indicates a slowdown momentum. Hence a cautious approach is advisable for the next trading session.

Look at the below research report of ‘Stocks to Buy for – Thursday, June 17, 2021’ before the market opens.

Power Finance Corporation Ltd

NSE :PFC   BSE :532810  Sector : Finance

As shown on the daily chart, PFC Ltd are moving precisely in the form of Rounding Bottom formation. Stock is facing multiple hurdles at 133 levels for the past few days. Now this level has become a temporally immediate resistance for the stock. It would be important to see if it sustains above the same in the coming session which would further validate the emerging trend on the upside. We published a PFC Ltd research report on June 03, 2021 and predicted a positive upside momentum in the coming sessions.

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

Happened: PFC Ltd has shown precise movement as expected and suggested by Chart pattern and Fibonacci projection levels. The stock rallied more than 6.5% in just four trading sessions and we achieved our targets at 126/130 levels.

The stock has been moving in sync with our expectations. Stock looks to be at a crucial juncture but with bullish up move expecting. Break above 133 levels which could take prices towards 140 levels. On downside stop loss can be placed near 125 levels.

Check More Analysis on PFC Ltd at: Power Finance Corporation Ltd