Ride the channel :D... { Bullish }Just follow the trend make possible entry in days low..
Put strict SL at the previous days low candle..
Note: Do your own study before making any position...
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CANFINHOME trade ideas
canfinhome similar pattern in past. stock after correction formed a hammer pattern and today closed above high of the hammer.
buy with sl of hammer low for a big target.
CanFin Homes- BuyThe stock has been in uptrend for quite some time now. It underwent a correction a few days back and now is ready to test its previous swing high. It is a good buy at CMP for a target of 2900.
CANFINHOME LONGCANFINHOME
Its definitely a buy, with the channel bottom as a stop loss.
Ideally on 26th-may it should have continued heading up and up., Not sure, whether, the News on No-Objection-Certificate requirement for HomeLoan could have dragged down on last friday., but wondering to see it tested the fibonacci 50% retracement at 2670 and returned. So, there could be a chance to test bottom again ? If so, that a great opportunity to enter as fresh too, with channel bottom as SL.
If there is no external news & impact, it can continue going high, and once if it crosses 2675 then, target.1 is 2800, and then if crosses 2900, can go up to the channel top.
Duration can be two weeks to a month time.
This idea is for leaning purpose, use your own reasoning and review before entering., and please add your comment, if any.
CANFIN HOMES
All Housing Finance Company gave dream run, it will correct little before resuming further move
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
CANFIN Homes : Confirming the Channel BreakoutOn the weekly charts, CANFIN Homes has confirmed the channel breakout on 16-Sep by retracing back to top end of the channel, taking support and consolidating there for 3 weeks before deciding to head higher as indicated by this week's green candle.
Long positions can be entered here with a stop placed below the breach of the upper channel line. Since stock has been making new highs, its advisable to ride the upmove by trailing stoploss once in profits. Also need to give this stock some time as this analysis is based on a weekly chart.
