Bearish flag pattern is formed in CANFINHOME on daily time frame
there is support level of 540 in the stock from it can retest and bounce back
You can also see from the chart there is a support of 200 ema.. it is likely to take support of 540 and bounce back If not it may break the flag pattern and move downwards below 530
one can initiate their positions based on...
CANFINHOME- Round Bottom Formed. It is expected to travel towards the target marked zone 700+ .
Disc- Only for learning purpose and not a trading recommendation.
Chart -> Canfin Homes daily
As previously Canfin has given a descending triangle breakout. Last time it completed it's pattern target of 127 Rs up-move successfully. Can it repeat?
CMP: 655
Stoploss: 610
Targets: All time high of 722, if broken than 840
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered....
CHART -> Canfin Homes DAILY SETUP
As seen per charts, there are few things to note:
1. Jubilant Ingrevia was trading under a trendline and in the downtrend. Recently it broke the trendline, telling the downtrend may be over.
2. From last few days it has started trading in a small upmove channel.
3. Today it has given a close above 200 DMA, and that now can act...
Can Fin Homes is building a beautiful parallel channel . This channel begins from Fall of 2020, and builds up till date. The stock has given respect to both bands of this channel and continues its journey. Currently the stock is trading near its all time highs of 2017, which it did broke a few weeks back, but faced a strong resistance and retraced. This week can...
CanFin Home Future
15m chart as on 08-11-2021
Uptrend since 01-11-2021
Can buy
CMP:- 657.00
SL below:- 650.00
Target:- 663.00 & 685.10
Short to Medium Term Trade
Weekly showing a rounding pattern breakout in progress taking out a 4 year old previous resistance
The last daily candle is wide range bullish . Momentum indicators is bullish on all timeframes short medium and long
while trend indicators are bullish as well with ADX strength of trending seeing rising up on all frames
and therefore continuation of price up move is likely.
This week we have come across Can Fin Homes and the chart looks very solid. Stock is at All Time High, keep a stop loss at Rs.650 and go long in this one.
#canfinhomes potential multiyear breakout in the making
a green close above 666 could mean a breakout from a 4 year old resistance
volumes are high and momentum also is in bull zones on all timeframes.
stops need be below breakout candle.
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn...
