MTF Stock Pick Buy Can Fin Homes Ltd For Target Rs. 630 - HDFC Securities
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MTF Stock Pick Buy Can Fin Homes Ltd For Target Rs. 630 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached weekly timeframe chart of CANFINHOME indicate a sharp upside bounce in this week.
We observe a formation of triangle type pattern on the weekly chart and the stock price is now making an attempt to stage upside breakout of the pattern at Rs 575 levels.
Hence, a sustainable move above Rs 575 could be considered as a decisive upside breakout of the pattern and one may expect more upside in the short term.
Weekly 14 period RSI and DMI/ADX are signaling further strengthening of upside momentum in the stock price.
The overall chart pattern of CANFINHOME indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Can Fin Homes Ltd Up to 3 Months @ Add on dips 538 CMP 571.65 TGT 630 SL 525
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