Canfin Home - closing above 620 will be a flag breakout and can give target of 750 in near term. All oscillators indicating bullishness of the stock. ADX 30 indicating strength in movement.
Stocks is consolidating for last 4 weeks near breakout zone. It has also give one shakeout. Further long term down trending line is near verge of breaking. It may be bought at 515 with SL of 484
Must have CANFINHOME in watchlist for upcoming week as it bounced back making Multiple attempts to break resistance zone.
Looking good for Long entry if it give resistance breakout above 495 Level
For Safe entry above 500 (round level)
View negates below 474 Level
Call for Wednesday 16th of September 2020 // This is a swing trade call and not an intra-day trade //
NSE:CANFINHOME
CMP / LTP: 434.3
IDEAL BUYING RANGE*: 415-450
TARGET: 520+ (20% Min)
STOP LOSS: 390 (10-12 % Max)
DURATION: In 15-20 Trading Sessions Target should be achieved
Notes:
- *IDEAL BUYING RANGE: This is the pricing range if the stock corrects...
Price - ₹454.80 Dt. - 04-11-2020
Price tends to take the support of 21DEMA and today the stock touched the 21DEMA and started moving up. Stock can start moving upward and can go up to the resistance line which is placed at ₹479.45 giving a nice 5% profit. RSI is neutral.
Levels are mentioned on chart for Swing trading.
Please check the description section for early entry level in given stock to get better Risk to Reward ratio.
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Entry: 380
SL: 365
Target: 430
RR: 3.33
Thank you. Happy Trading!!!
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