In the previous session, the market witnessed consolidation throughout the day. The Nifty index saw a gap down opening in the morning but rebounded at an important support level. Market remained in a sideways zone throughout the day. On the technical note, the index formed a small bullish candle on the chart and closed on a flat note. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Friday, February 03,2023’ before the market opens.

Can Fin Homes Ltd.

CANFINHOME stock gave a breakout from a trendline above 569 level on the daily charts which have opened room for the stock to retest September 2022 highs. In the budget session, we saw a sudden fall in all financial stocks but in the previous session stock gradually recovered all the losses and closed with a net gain of 5.50%. A strong bullish candle appeared on the chart. Stock is holding above 100 per cent Fibonacci retracement of a rally around 569 levels, indicates a short term support.

In short, the trend for CANFINHOME looks to be positive for now. Positions can be created only above 579 levels, which was previously two days high level . A move above 579 can lift the prices towards 590/619 levels. If the price will sustain above 619 levels, then we will review this stock again.

Check More Analysis on CANFINHOME at: Can Fin Homes Ltd.