Technical Pick – Can Fin Homes
• Canfin Homes is finding support at 472 and resistance above 490.
•On Daily chart, Canfin Homes is having symmetrical triangle breakout point above 490.Break and sustain above 490 will see nonstop rally till 508--515+++ in weeks to come.
• Canfin Homes has been trading in a broader range of 495 – 450 for few weeks
•MACD too has given the positive crossover (Buy signal) which indicates that upper side seems certain in it.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 508 - 515+++ in weeks to come.
For positional trade, stop loss seeing below 472 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(21st Dec 2017)
Buy Can Fin Homes above 490 and for the initial upside target of 508 - 515+++ mark with stop loss below 472 on closing basis.
More will update soon!!!
