CANFINHOME trade ideas
Can Fin Homes ready for the uptrend!🤩💸🔥Buy Can Fin Homes for Positional Trading as well as Investment.💸🔥💸
Comment your views‼️😄
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💡About Company:
Can Fin Homes Ltd. is a public deposit-taking housing finance company promoted by Canara Bank. It focuses on funding to low & middle group individuals & first-time homebuyers preferably salaried or professional. However, since 2014 it is also increasing exposure to self-employed professionals & non-professionals.
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💡Product Mix
The company has 3 major segments: Housing finance, Non-housing Finance & Deposits. The average ticket size is 18 lacs for housing loans & 9 lacs for non-housing loans. It also accepts - Fixed & Cumulative deposits as per the rules of the National Housing Bank.
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✔️ Technically & Fundamentally Strong💪💪
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‼️ The stock is taking support on a Multi-Year imp zone. Now with the completion of the retracement which is evident by the Higher high formation and Volume Continuation, we can expect a strong uptrend from current levels.
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💎@technofunda_trader
Few Important rules from my Trading Philosophy:
1. Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-10% in any stock & more than 25% in any particular or related sector. If stock is risky don't invest more than 2-3%.
4. Build position gradually as the stock rises.
5. Trade in the direction of the bigger trend.
6. Ride the trend, don't sell your winners early.
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[POSITIONAL] CANFINHOME LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Canfin Homes looks solidCHART -> 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 as a support and the stock can start upward journey.
4. RSI was also lying below a bearish trendline for quite some days, RSI is also now above the trendline.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.