|Buy Range||314 – 320|
|Target||350 – 365|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||11 – 16%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|315.9||BUY||314 – 320||350 – 365||306||15 – 20 Trading Sessions||11 – 16%|
# CMP on May 07, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 333.
^ The returns are calculated based on CMP#
This Indian housing finance institution offers loan products to individuals and builders/developers. The company offers housing loans, mortgage loans, site loans, loans for commercial properties, personal and educational loans. Besides, it accepts deposits from the public such as Fixed Deposit and Cumulative deposit. In the year ended March 2019, Can Fin Homes has 154 branches, 21 affordable housing loan centres and 14 satellite offices and has reported 13.78% jump in net sales vs 12.18% in March 2018.
|Sectoral Index||NIFTY Financial|
TECHNICAL OBSERVATIONS (DAILY)
- The stock had remained in the corrective phase over the last seven months, from October 2018 to March 2019.
- After the strong breakout rally in middle of the March, the stock is seen above the resistance line of the earlier consolidation pattern over the last four weeks.
- It highlights the change of polarity principle and signals a higher base building process that will act as a launchpad for the next up move.