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Price and trend forecast of CANFINHOME for Tomorrow, Weekly, Monthly

Can Fin Homes Limited

Symbol: NSE:CANFINHOME

ISIN: INE477A01020

785.75

As on 2024-04-12

550.80 (52W Low) 909.80 (52W High)

CANFINHOME's Today's Performance

Can Fin Homes Limited started the day by opening at 808.80 today 2024-04-12. Its shares reached a high of 813.70 and dipped to a low of 784.15 in intraday. When the markets closed, CANFINHOME’s stock price settled at ₹785.75 per share. Also check out its key support and resistance levels.

CANFINHOME Buy/Sell Targets

Tomorrow, sell CANFINHOME when its price reaches ₹ 785.75 with a stop-loss order at ₹ 799.68. You can set the target price as ₹ 771.82 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of CANFINHOME for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for CANFINHOME

Resistance Levels Value in ₹
Tomorrow Resistance 1 805
Tomorrow Resistance 2 824
Tomorrow Resistance 3 834

Important Supports for CANFINHOME

Support Levels Value in ₹
Tomorrow Support 1 775
Tomorrow Support 2 765
Tomorrow Support 3 746
Based on where the stock opens tomorrow, if CANFINHOME opens on a positive note, our first target will be ₹805. If Target 1 is achieved, we will aim for Target 2 which is ₹824.

But if CANFINHOME falls below the average value of ₹794.53, you can enter a sell side position with target number 1 - ₹775 and second target - ₹765 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of CANFINHOME

Looking at CANFINHOME, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, CANFINHOME has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for CANFINHOME is moderate bearish.

Tomorrow's Volume based share price Forecast for CANFINHOME

CANFINHOME's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -30%.

Reversal detection for CANFINHOME

Predicted trend chart of CANFINHOME tomorrow for price forecast
CANFINHOME may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹814 in morning tomorrow
Target 1 tomorrow806
Target 2 tomorrow813
Target 3 tomorrow824
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with CANFINHOME's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if CANFINHOME opens on a positive note, our first target will be ₹804.92. If Target 1 is achieved, we will aim for Target 2 which is ₹824.08.

But if CANFINHOME falls below the average value of ₹794.53, you can enter a sell side position with target number 1 - ₹775.37 and second target - ₹764.98

CANFINHOME's Weekly Targets
1st Up Target 819.78
2nd Up Target 853.82
1st Down Target 767.93
2nd Down Target 750.12

As the week for CANFINHOME ended on bearish sentiments, we can expect further continuation of this sentiment. CANFINHOME's initial target will be 819.78 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 767.93 in the upcoming week.

Weekly OHLC Values
Open 798.85
High 836.00
Low 784.15
Close 785.75

Week for CANFINHOME started with an open price of 798.85, and the close was at 785.75. CANFINHOME reached the highest of 836.00 and dipped lowest up to 784.15 last week. This indicates a bearish sentiment for the week.

CANFINHOME full month swing targets
Monthly Up Target 1 871.63
Monthly Up Target 2 905.67
Monthly Down Target 1 716.08
Monthly Down Target 2 646.42

Targets of ₹871.63 can be expected to be reached in the coming month. Once CANFINHOME achieved this target, we can aim for the next upside target of ₹905.67.

CANFINHOME if fails to hold upside, down targets of ₹716.08 and ₹646.42 can be achieved by end of this month.

For complete three weeks if CANFINHOME is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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Summary

CANFINHOME is expected to reach the target of 804.92 in tomorrow's trading session.

After achieving the initial target in CANFINHOME, we will aim for higher targets of 824.08 tomorrow.

However, if CANFINHOME starts to trade below ₹794.53, then we will shift our focus to the sell side and aim for down targets of 775.37 and 764.98.