In the previous session, Market traded on a narrow range and closed the day with a net loss of 40.70 points. The Nifty index saw a positive opening in the morning session but failed to sustain above 18000 levels. Technically, the index formed a Bearish candle on the chart. The overall session was range bound. Hence, we continue to recommend approaching the markets in a stock-specific way.

Look at the below research report of Stocks to Buy for ‘Wednesday, November 03, 2021’ before the market opens.

GIC Housing Finance Ltd

NSE :GICHSGFIN   BSE :511676  Sector : Finance

In the daily time frame, GICHSGFIN share prices are moving in the form of the Wedge pattern. The prices are consolidating between upward sloping support and resistance lines. As shown on the technical chart, the pattern found in the downward side, also a breakout was seen towards upside. This situation indicates a pattern failure or price can continue to follow the upside momentum. In addition, Stock prices are comfortably moving above the Parabolic SAR with positive strength. The Relative Strength Index (RSI) on the daily chart is 63, which indicates bullishness.

The short-term trend for GICHSGFIN looks to be positive for now. To continue with the up move, a break above the previous two day’s high above 172 levels is required. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 185-186 levels which is 261.8% of Fibonacci retracement. This outlook is valid as long as we do not see any closing below 158 levels.

Check More Analysis on GICHSGFIN at: GIC Housing Finance Ltd