GIC Housing finance has had a great bullish week and the rally was accompanied with upsurge in volume.
Stock made high on closing basis on 13 Aug whereas on 16th Aug it made intraday high. But on both instance the volume was lower than preceeding week when price was lesser than these two days. The occurance of high with lower volume is a precuser of impending fall and thats what happened 16th onwards.
A slight correction was expected and since MACD crossover has happened above the zero line its still
bullish it may find a support at 137-138 level where new position can be made.
I suggest GIC housing finance a bullish counter that can be bought on dips.
