CANFINHOME trade ideas
MONTHLY BREAKOUT AND RETESTmonthly breakout on the scrip and the stock is also able to retest now ready for the upward journey.
📈 Exciting Bullish Pattern Alert! 🐂📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Falling Channel
📌 Symbol/Asset: CANFINHOME
🔍 Description: Stock is around the support of falling channel. Unless it dont break the support we are bullish.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
CANFINHOME LOOKS GOODHere, on the weekly time frame, it looks like we have some continuation pattern in the chart in monthly time frame.
At this stage, we have some good sellers who are holding way for buyers.
Let's see what we have in the future..
MultiYear Pattern Breakout!Hello Traders,
Sharing this weekly chart of Can fin Homes, there is a 6-year pattern breakout in the stocks,
company is also consistently doing good in fundamentals, also currently trading below industry PE (Price to Earnings Ratio).
SL price- 650 (I suggest an SL below 650 as there is no previous swing below, so an SL little below the breakout level will be considerable)
Target-1200
Disclaimer- Please do your own analysis before entering into any trade.
Best regards Happy Trading- Harshit.
NBFCCanfin Homes
There are only handful of Non Banking Finance Companies with good market capitalization looking good. By rejecting few companies whose negative change in promoter holding in recent quarter and those with high valuations leaves out CANFIN homes which recently had healthy correction and took support of 50% Fib retracement and showing reversal. Trend has been changed since Sep 1. Valuations of this company is reasonably good in the industry and has good earnings yield as well.
Concerns:
1. High Debt to equity ratio
2. Low Interest Coverage Ratio considering high debt in the industry
3. Promoter holding has always been at 29.99%
4. Solvency Altman Z score is in grey area of 1.02. Z Score above 2.99 is stable.
5. Need to check what other borrowings are. Rising significantly since 2021.
There is one other housing finance company whose fundamentals are very good with very low debt but high valuations among the industry and is still in downtrend technically. "Aptus Value Housing Finance India Ltd"
CanfinHome gave a breakout on weekly tf.it took resistance on a upward trendline in 2017, then again in 2021 and finally it gave a breakout in 2023. Now it is yet again retesting the breakout with a rangebound price action which has been broken as well. A GREAT BUY SIGNAL.
CANFINHOME BREAKOUTPrice has reacted from entry zone and consolidating near d20ema...breakout expected soon
Canfin HomesExtreme consolidation about to end, since the previous selling was high hence closing above 770 levels will be first sign of strength
CANFINHOMES nearby the support CANFINHOMES nearby the support
Major support @ 691 - 680.20
breaking theses levels will lead to 580, 561.25, 523.
No Trade Zone marked as - 680 - 714
Can Fin Homes Ltd Taken SupportAs Per technical Analysis and Volume Analysis NSE:CANFINHOME Looks like It had taken Support Near 712-715 level if its break 700-690 then we can see more down fall and it will test 650,630 Level.
Currently looks like it will reverse From current Level and it will Test 780,800 Level.
As Swing trading purpose we can Add this stock in Portfolio.
Levels Buy Near 725-730, Stop Loss 710, Target 760,780,800
Option Trader Can also take Entry
buy 750 CE Near 19-20, Sl 13, target 30,34,37
Before Taking Any Entry Do your Own Analysis.
Only For Educational Purpose.
Thanks and Regards
Ajay Metha
Sell CANFINHOME Canfin Home seems week on the chart may touch the Target Line in coming days or week. Buying opportunities occur if the trendline is not broken. The fraud is conducted by its employees Vishal Saxena, Vivek Bhagat and Deepak Gupta as reported by the management to BSE. The fraud is not too big to affect the assets quality. It can be a buying opportunity if it did not break the trendline. It can be bought as near to trendline as possible and stoploss will be placed below the trendline.
Can fin homes . Would the rally finally come to a halt?Interesting setup developed over last few sessions in Can fin homes. Negative Divergence seen on chart for PRice and RSI and also mild divergence in Price and MACd . At 825 rs this is technically a short candidate, but results today so need to observe how it pans out
can fin expiry drama overCanfinhome looks over reacted for the news of course put writers gone for toss.
it happens.
Irrespective of the new, chart is saying go long.
If one can take risk can buy cmp 745 target 900+
CANFIN HOMEFollowing the discovery of employee dishonesty, Can Fin Homes fails. This deception caused it to drop over 18% from its recent high.
I believe that if it builds up steadily and is given enough time, it will be able to provide a good return.
Once it crosses the 777–780 range, I anticipate positive movement.
Positionally, it might reach 800 or 850.
I'm not a financial advisor. Before making an investment, please consult your advisor.
It is solely for educational purposes.
Canfin homes 851 Bearish Engulfing Candle @ TopCanfin homes 851.20 dated 25-7-2023
1. Bearish Engulfing Candle @ Top of chart.
2. Price Fall with Volume
Sell below 845 target 825-815-800-790-765
SL 895
It is just a view, please trade at your own risk.
Fraud Alert in Can Fin Homes‼️From 20% PROFITS to only 5% profits in just 2 DAYS🔻
This is what happened....
The Curious Case of Can Fin Homes 🧐
So Can Fin Homes broke out of a monthly consolidation sometime back and that was the time I picked the stock up. It was performing well, delivering 20% + Returns 🤑 in just a few weeks. Numbers announced for the quarter were very strong as well ✅
But the news of a fraud of 38 crores ends up hammering the stock like it is a fraud worth 380 crores with more to follow 🫨
The chart breaks crucial levels and market signals to something even more mischievous. At this time we are still observing, having exited the position on a much smaller return than what we could see in the position just 2 days back 😱
What will happen will be seen soon. But one thing I have learnt is that never break your discipline. Stop Loss is essential for Risk Management❗️
Do not enter until the issue is resolved here.
Canfinhome trend changeShort CANFINHOME breakdown of the trendline. Target 656 to 621. Support at the Fibonacci golden ratio 0.5 Target 656 Second Target at 0.618 level of 621.
canfinhome - buy for a bounceBy from cmp to 767
sl close below 760
easy tg - 780
tg2 - 790
Disclaimer : This is my personal analysis for study purpose not intended for trading.
Short Entry in CANFINHOMESAs per Volume analysis Looks Like CANFINHOME will give Small Negative Trend if its break 882-880 level.
If canfinhomes breaks mention level then possibly it will test 870-865 level.
Will wait for for entry to get execute.
Only For Educational Purpose.
Canfin Homes is at buying levels - holding trendline supportEntry - 750
SL - Close below 729
First target - 795, then can be trailed
CANFINHOMES to take long entryLong Canfin above the BO as marked on the charts. High probability that the stock will bounce back again. Shortly levels 0f 775-800 can be seen. This is for your educational purpose only.
