Published on 11/01/2018 4:10:15 PM | Source: Choice Broking Pvt Ltd

Buy Can Fin Homes Ltd For Target Rs.525.00 - Choice Broking

Posted in | #NBFC #Can Fin Homes Ltd #Trading Report #Choice Broking


* On a monthly chart, after giving a healthy correction from its all-time high level, the stock has confirmed a “Long-legged Doji” candlestick with the support of 455.50 level which is a 50% of Retracement of its previous up move from 254.30 to 664.50 level.

* On a daily chart, the stock has given a breakout of its consolidation phase with the increase in volume activity which indicates a robust upside movement in the counter.

* Moreover, the stock has been trading with a positive crossover of 21*50 days moving average which shows positive momentum in the counter.

* A daily momentum indicator RSI(14) reading is at 54.45 level with a positive crossover which points out a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

Recommendation

Buy Can Fin Homes Ltd @ 486.30-491.25 StopLoss 470.00 Target 525.00

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