June 09, 2017
CanFin Home (NSE Cash)
BUY
` 2780
` 2890 - 2915
` 3155
14 -21 sessions
Daily Chart
Source: Falcon (Time:
09:30 IST)
Justification:
Most of the NBFC stocks have been on a roll since last many months. Clearly, this stock has been one of the
outperforming stocks within this space. Due to recent price action, we can see a formation of V pattern on daily chart.
On Wednesday, we witnessed a breakout from this pattern along with sizable volumes, indicating persistent buying interest
from the market participants. In addition, the RSI-Smoothened oscillator on the daily chart has crossed the 70 mark in
the upward direction, which certainly augurs well. Hence, we advise traders to buy this stock at current levels and on declines at
`2880 for a target of `3155 over the next 14- 21 sessions. The stop loss should be fixed at `2780.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
1
June 09, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: technicalresearch-
[email protected]
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