In the previous session, the market opened on a flat note and made a high near 17324. However, in the middle of the market the index saw selling pressure from higher levels. Technically, The Nifty Index formed a bearish candle with a long upper shadow on the chart and closed with a net loss of 70.75 points. The overall market will remain volatile hence a cautious approach is advisable for the next trading day.
Look at the below research report of ‘Stocks to Buy for – Wednesday, December 01, 2021’before the market opens.
NSE :NAVINFLUOR BSE :532504 Sector : Chemicals
NAVINFLUOR Stock prices have formed a strong positive candle in the previous session. Prices have been giving a break above the Ichimoku cloud which is a strong indication of a positive trend. The up move has been supported by the base and the conversion lines as both the lines are seen rising along with price. Along with this, The Relative Strength Index (RSI) on the daily chart is 58, which indicates bullishness. The important thing to witness is that stock comfortably closed above the 100 EMA support which indicates positive momentum in coming days.
The overall long-term trend for NAVINFLOUR is positive and dips around 3650 levels will provide a good opportunity to accumulate the stock. As per Fibonacci extension prices can continue to move higher towards 3920 and then 4360 levels. One can maintain stop loss at 3480 near the support area.
Check More Analysis on NAVINFLOUR at: Navin Fluorine International Limited