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Published on 4/06/2019 3:21:27 PM | Source: Religare Securities Ltd

Buy Can Fin Homes Ltd For The Target Rs.404 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #NBFC #Can Fin Homes Ltd #Trading Report #Religare Securities Ltd

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* CANFINHOME had an exceptional run during 2013-2017 as it rose almost vertically and made a new record high at 659.97 in June, 2017.

* Consolidation/ Profit taking become obvious after such a strong directional move and it has been witnessing the same for nearly two years. It tested the major support zone around 225 levels on the weekly chart and swiftly rebounded thereafter.

* Currently, it’s consolidating in a range while holding firmly above the support zone of multiple moving averages on daily chart. The current chart pattern and positioning of trend confirmation indicators are pointing towards fresh breakout ahead.

* We advise traders to initiate fresh longs position as per the levels. 

Recommendation

Buy Can Fin Homes Limited @ 357-360 SL 338 TGT 404 CMP 361.30

 

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