Can Fin Homes Limited Stock Forecast
Red day on Friday for Can Fin Homes Limited stock after losing 0.92%
(Updated on May 03, 2024)
The Can Fin Homes Limited stock price fell by -0.92% on the last day (Friday, 3rd May 2024) from ₹775.95 to ₹768.85. During the last trading day the stock fluctuated 3.35% from a day low at ₹761.25 to a day high of ₹786.75. The price has fallen in 5 of the last 10 days but is still up by 1.86% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -860 thousand shares and in total, 659 thousand shares were bought and sold for approximately ₹506.66 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.52% during the next 3 months and, with a 90% probability hold a price between ₹647.79 and ₹754.76 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CANFINHOME.NS Signals & Forecast
The Can Fin Homes Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹758.39 and ₹762.61. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -5.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Can Fin Homes Limited stock
Can Fin Homes Limited finds support from accumulated volume at ₹762.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹25.50 between high and low, or 3.35%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: ₹732.60 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (CANFINHOME.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Can Fin Homes Limited to open at ₹772.28, and during the day (based on 14 day Average True Range), to move between ₹747.97 and ₹789.73, which gives a possible trading interval of +/-₹20.88 (+/-2.72%) up or down from last closing price. If Can Fin Homes Limited takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹762.65 (0.81%) than the resistance at ₹775.95 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Can Fin Homes Limited stock A Buy?
Can Fin Homes Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.130 Hold/Accumulate Unchanged
Predicted Opening Price for Can Fin Homes Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹772.28 ( 0.447%) | ₹768.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CANFINHOME.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 797.78 | 3.76 % | |
| R2 | 788.04 | 2.50 % | ||
| R1 | 782.02 | 1.71 % | ||
| Current price: | 768.85 | |||
| Support | S1 | 762.54 | -0.82 % | |
| S2 | 756.52 | -1.60 % | ||
| S3 | 746.78 | -2.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 850.95 | 10.68 % | |
| R2 | 810.55 | 5.42 % | ||
| R1 | 775.95 | 0.92 % | ||
| Current price | 768.85 | |||
| Support | S1 | 762.65 | -0.81% | |
| S2 | 746.30 | -2.93% | ||
| S3 | 743.85 | -3.25% |
CANFINHOME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2023 | Dec 29, 2023 | Dec 29, 2023 | ₹0 | 0% |
| 2 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ₹2.00 | 0.257% |
| 3 | Dec 08, 2022 | Dec 08, 2022 | Dec 08, 2022 | ₹1.50 | 0.270% |
| 4 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | ₹1.50 | 0.241% |
| 5 | Dec 23, 2021 | Dec 23, 2021 | Dec 23, 2021 | ₹1.50 | 0.270% |
FAQ
Click here for our free guide on how to buy Can Fin Homes Limited Stock.
