Monday, February 19, 2018

CANFIN Homes Ltd.. Breaking Out in Bad Market ??

Hello Again, 

Today Found a Nice Setup in Extremely weak Markets, Surprisingly The Stock was not reacting to the Market today, So thought of sharing it with you guys. 

The Stock is CANFIN Homes Ltd., yes Many Guys will be surprised to see the name of a HFC while the Banking Sector is Bleeding. But I Believe individual Stocks Perform even in a Bad Market. and As you all might Know, I am always on Buy Side in Current Market as it is a Up trending Market for me, yes For Me Markets are still in uptrend and the Trend is not Compromised yet. Though the Markets are Trading near a Very Crucial Level, I believe we will See surprise Moves in Coming week. 

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Let's Focus on Today's Stock 



This is a Weekly Time Frame Chart and It was Shared on our Telegram Channel Earlier Where We have Done Our First Target as the Trade was taken Immediately On Breakout As per the Chart, The Stock is breaking out of the Falling Trend after a considerable correction. The Stock has been Respecting the Rising Trendline since a Long time. Recently a spike down was witnessed where the Stock has taken support on 100 Day Simple Moving Average and Bounced back. As We can see on Charts, The Bar which took support on 100 DMA has also formed an Outside Bar Formation and the Next Breakout Bar has done the Required breakout. 

Now we will see the Stock on Smaller time frame chart 


This is a Daily Time frame Chart and Here We can see more Detailed picture. The Stock after breakout from a Falling trendline has retraced with the current Market Correction to retest the Falling Trendline. The Retest is almost done and the Price is forming a Strong Confluence Zone for a Strong Support.. The Trend line Support, The Resistance turned Support line and a 100 Day Exponential Moving Average are working at a same zone of 488-489 levels and will act as a Strong Support Now. 3 Forces working together to push or keep the price higher. The Stock is a Buy till it is trading above this support zone.

At a Support zone on a Overall Weak day for the Markets, we have witnessed indecisive move here with a Doji Formation. The Bullish Candles from the Bottom are Strong and having BH Bigger than CH, indicating strong Bullish Momentum. 

Recommendation:- 
CANFIN Homes Ltd. is a Buy around 500 Levels with a Stoploss Near 488 or Little Lower to Avoid False impact of Market Volatility. The Targets for this Trade are seen around 536 - 560 - 578 and may be 620++ Soon :) 


Future Traders :
Lot Size is 1250,
Your Risk Per Lot Trade will be 12 x 1250 = 15000/- Rs. may vary according to your entry levels
45000 - 75000 - 97500
(Considered Buy @ 500 and Stoploss @ 488)
and The Reward for this trade will be (Considered buy @ 500)

It's an Amazing Risk / Reward setup for me and I will prefer Buying this Stock for good gains on Positional Holding. 

Disclosure: 
The Analyst, Atul S Shinde is a Technical Analyst and SEBI Certified Investment Adviser. He is Having a Global Exposure with 10 years of Global Market Experience and More than 9 years of Indian Markets Experience as a Trader, Adviser and Fund Manager. The Stock Discussed here may be advised to my Clients, The Analysis given here is completely unbiased and doesn't have any vested interest here. Please Follow Risk Management and Do not Over trade in Current Market Conditions. Consult Your Trading Adviser and If you are not having one please appoint someone or follow someone before you loose your Capital. 


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All The Best Guys, See you soon!!

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